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Armenia short of 200 billion drams in tax revenues in 2024 - Finance Ministry head
... collection is in line with economic growth indicators. He explained that some projects were funded from the Reserve Fund. "We had, if I am not mistaken, 130 billion drams in the Reserve Fund. This fund was mainly used for two purposes: addressing the housing issues of our compatriots forcibly displaced from Nagorno-Karabakh and over 50 billion drams as a fiscal buffer. At the moment, the remaining balance is about 30 billion drams," Hovhannisyan said. Additionally, the minister mentioned that the expenditure portion of the 2025 budget is 150 billion drams less ...
12/25/2024Armenian government to raise housing compensation for Alaverdi flood victims
... Infrastructure David Khudatyan reported that the homes and apartments of some Alaverdi residents became uninhabitable as a result of the disaster and were in a state of emergency. As a result, it was decided to provide residents with funds to purchase new housing. The initial compensation was set at 63,400 drams per square meter. However, the market conditions showed that it was impossible to purchase housing in Alaverdi at that price. As a result, the government decided to raise the compensation amount ...
12/19/2024Armenia extends housing program for retired military
Retired military personnel in Armenia who need housing will continue to receive apartments with state support. This decision was made at a meeting of the government on Thursday. YEREVAN, December 12. /ARKA/. Retired military personnel in Armenia who need housing will continue to receive apartments ...
12/12/2024Artsakh refugees outraged by Armenian government's decision to cut their aid
... and utilities, Artsakh human rights defender Gegham Stepanyan said today. YEREVAN, 29 November. /ARKA/. Artsakh (Nagorno-Karabakh) refugees have taken with great dissatisfaction the Armenian government's decision to reduce the financial aid provided ... ... who will continue to receive assistance after April 2025. ‘This is a wrong approach, as these funds are provided to pay for housing and other expenses. The housing problem has not been settled, and in these conditions it is a very wrong decision to reduce ...
11/29/2024Armenia counts on DFC's contribution to financing of SME, capital market and agro sector- minister
... means. With your assistance, we can take a step forward towards building a developing and inclusive economy,’ Papoyan was quoted as saying. Key issues discussed during the meeting included support for SME programmes and capital market development, housing for refugees, food security and the agribusiness sector, in particular the promotion of organic agriculture and the integration of renewable energy, and the development of the tourism sector. About DFC DFC Corporation was formed in December ...
11/25/2024Financial aid for forcibly displaced Artsakh residents in Armenia to be reduced
... assistance allocated to forcibly displaced residents of Artsakh. YEREVAN, November 21. /ARKA/. At a meeting on Thursday, the Armenian government decided to reduce the financial assistance allocated to forcibly displaced residents of Artsakh (Nagorno-Karabakh). Currently, refugees who do not own property in Armenia receive monthly financial assistance of 40,000 drams for housing rental, plus an additional 10,000 drams for utility costs. According to the Minister of Labor and Social Affairs, Narek Mkrtchyan, starting from April 2025, assistance will be provided only to minors, pensioners, individuals who have lost a breadwinner,...
11/21/2024Assistance program for Nagorno-Karabakh refugees extended until March 2025 – Minister
... Social Affairs Minister Narek Mkrtchyan said today. The assistance amount is 50,000 drams for each refugee. YEREVAN, November 4. /ARKA/. The Armenian government has extended until 2025 March an assistance program, designed for refugees from Nagorno-Karabakh, Labor and Social Affairs Minister Narek Mkrtchyan said today. The assistance amount is 50,000 drams for each refugee. Earlier the government extended the program until the end of 2024. Forty thousand drams are provided for covering housing rent and 10,000 drams to cover utility expenses. The minister revealed that in January-March 2025, the amount of monthly assistance will be 50,000 drams, but starting from April the 10,000 drams will not be paid. He explained that these 10,000 ...
11/04/2024Armenian foreign ministry condemns actions against Iran as threats to international security
... international law and prevent further undesirable developments," the Armenian Foreign Ministry stated. According to the Israel Defense Forces (IDF), airstrikes on the night of October 26 targeted missile production facilities in Iran, as well as sites housing surface-to-air missiles. The IDF press service reported that the strike was a response to Iran's attacks on Israel in recent months. -0-
10/28/2024Ameriabank's exclusive offers: MyHome platform and preferential loans
At TOON EXPO 2024, Ameriabank is showcasing MyHome platform - the first and the only one in the market that offers a comprehensive online solution for buying property in the primary market- from selection of housing to mortgage approval. YEREVAN, 25 October. /ARKA/. At TOON EXPO 2024, Ameriabank is showcasing MyHome platform - the first and the only one in the market that offers a comprehensive online solution for buying property in the primary market- ...
10/25/2024Pashinyan and Macron strengthen bilateral ties: France's support and Armenia's steps towards peace
... country's support for the steps of the Armenian Government aimed at peace and stability, and at the same time welcomed the "Crossroads of Peace" project. Reference was also made to the social problems of people forcibly displaced from Nagorno-Karabakh, and the Armenian Government's housing provision program. In this regard, Nikol Pashinyan and Emmanuel Macron emphasized the consistent support of the international community in addressing and solving the existing problems. The Prime Minister of Armenia and the President of France ...
10/03/2024Armenia to deal with the issue of employment and housing of Artsakh refugees
... international community a year ago during the reception of Artsakh refugees and meeting their primary needs. ‘Now, in the next stage, we have to think about short-term and long-term plans to meet these needs. There is a problem of providing them with housing, jobs and huge efforts should be made in this regard,’ Mirzoyan said. The Minister stated that Armenia's policy is that if there are no means or opportunities for the Artsakh residents to return to their homes, Armenia should make every effort ...
10/02/2024ADB Improves Armenia's economic growth forecast for 2024 to 6%, 2025 forecast unchanged
... the jewelry sector, as well as utility revenues, which offset a 10.7% decline in the mining sector. "Construction grew at a weaker 15.9% from 19.4%, helped by public investment in highways and social infrastructure, to a lesser extent, private housing. Relatively strong crop and livestock production doubled agricultural sector growth to 4.9% from 2.3% last year," the report said. In the context of demand, ADB analysts point out that the main drivers of growth were private consumption ...
09/26/2024A total of 400 apartments will be raffled by an exceptional price as a result of the new cooperation between Ardshinbank CJSC and ML Mining
... square meter. The construction of "Avan Towers" is carried out on the basis of a three-party memorandum signed by the City Planning Committee of the RA, Ardshinbank and the ML Mining company. The program is designed to provide affordable housing for civil servants. Considering the large number of applications, not only civil servants, but also any client of Ardshinbank, regardless of their field of activity, can apply for participation in the lottery. To provide a more comfortable process ...
09/11/2024Armenia's population reaches 3.06 million
The urban population stands at 1,973,400, with Yerevan housing 1,134,000 residents. YEREVAN, August 6. /ARKA/. The permanent population of Armenia, based on the 2022 census and current records, was 3,057,800 as of July 1, 2024, up from 2,945,500 on the same date in 2023, the National Statistical Committee ...
08/06/2024Landlocked Armenia must make the best use of human resources - ADB head in Armenia (exclusive)
... working here. The fact that our President, Mr. Masatsuga, visited Armenia last year best underlines the serious attitude of ADB’s team. If you asked me where ADB’s efforts should be directed, I would say unequivocally to the projects on providing housing to the population. Why am I talking about this? Because about 40 thousand families have problems with housing, and the influx of more than 100 thousand ethnic Armenians in September 2023. Since the government has announced that it intends to assist ...
08/01/2024Memorandum in support of Karabakh refugees signed between Armenian Ministry of Labour and CNFA company
... memorandum, the Ministry's press service reports. The document, signed by Deputy Minister of Labour and Social Affairs David Khachatryan and Project Manager Artak Ghazaryan, is aimed at the effective implementation of the project designed to provide housing for Nagorno-Karabakh refugees, introduce necessary management tools and develop human potential. "At present, the Armenian government is implementing long-term plans to provide housing and economic integration of the forcibly displaced persons from Nagorno-Karabakh....
07/15/2024Armenia’s government to provide 40,000-60,000 AMD for each sq meter of damaged housing to flood victims
... the victims of the recent floods in the Lori and Tavush provinces, the government reported on Thursday. Armenia’s Interior Minister Vahe Ghazaryan revealed that the amount of compensation will be determined by the area of the damaged (or destroyed) housing, and beneficiaries will receive certificates. Among the types of damage subject to compensation, Ghazaryan highlighted damage to apartments in multi-apartment buildings, private houses, and damage to primary household property. He added that if ...
07/04/2024Armenian PM and US Assistant Secretary of State discuss development of strategic dialogue between two countries
... this year. The sides eschanged thoughts on the discussions on the Armenia-Azerbaijan peace treaty, the border demarcation process between Armenia and Azerbaijan, the "Crossroads of Peace" project, the implementation of the recently approved housing program for people forcibly displaced from Nagorno Karabakh. Regarding the latter, Prime Minister Pashinyan attached importance to the support of international partners. -0-
06/18/2024Armenian government approves procedure for assisting refugees in acquiring or constructing housing
... YEREVAN, 14 June. /ARKA/. The Armenian government today approved the procedure of providing assistance to refugees from Nagorno-Karabakh in purchasing a flat or building a house. According to Deputy Minister of Labour and Social Affairs David Khachatryan,... ... private house. The beneficiaries of the programme are those refugees who have already received Armenian citizenship. The cost of housing cannot exceed 55 million drams. At the same time, up to 3 million drams from the allocated funds can be used to purchase ...
06/14/2024Dep of State Assistant Secretary: US to continue supporting reforms in Armenia
... The parties also touched upon the peace process between Armenia and Azerbaijan, the border delimitation, the Alma-Ata Protocol, and Armenia’s Crossroads of Peace project. Additionally, Pashinyan informed O’Brien that the government had adopted a housing program for refugees from Nagorno-Karabakh, and stressed that this program requires support from international partners.
06/11/2024Armenian Deputy Prime Minister presents details of assistance to refugees from Karabakh who decided to get citizenship
... citizenship," he said. At the same time, the Deputy Prime Minister explained that 2,000 forcibly displaced residents of Nagorno-Karabakh have already applied for Armenian citizenship and 1,400 of them have already received it. He also added that if adult ... ... lists (of settlements - ed.) approved by the government. The first one includes 242 settlements, and those who decide to buy housing in these places will receive assistance in the amount of 5 million drams, i.e. if a family consists of 6 people, the maximum ...
05/24/2024Details of Armenia’s housing subsidies project revealed
... family is planning to buy real estate and families with one child if such a family wants to build a house. “Stage three will start in January 2027 and will cover the rest of the families,” Karagezyan stressed. The Armenian government approved a housing subsidies program for refugees from Nagorno-Karabakh on 16 May. It is expected that a total of 25,000 families will receive housing certificates and will be able to either buy real estate or build their own house. The government also announced it would help forcibly displaced individuals from Nagorno-Karabakh ...
05/20/2024Armenian government approves program to support refugees from Nagorno-Karabakh
The Armenian government has approved today a new plan of actions designed to support the forcibly displaced persons from Nagorno-Karabakh- to provide them with housing. YEREVAN, May 16. /ARKA/. The Armenian government has approved today a new plan of actions designed to support the forcibly displaced persons from Nagorno-Karabakh- to provide them with housing. Labor and Social Affairs Minister Narek ...
05/16/2024Head of parliamentary committee: Armenia intends to exceed WB's revised forecast on economic growth
... developments. We also cannot influence developments in our partner countries, » said Tunyan. According to him, the Armenian side is doing everything possible to resolve the situation with Azerbaijan and economically integrate refugees from Nagorno-Karabakh and resolve their housing issues. As for the diversification of the economy, improving low labor productivity, attracting foreign investment and human capital, this depends on Armenia, he said. -0-
04/18/2024Armenia's economy to grow by 5.7% in 2024 and 6% in 2025 - ADB's forecast
... the Asian Development Bank's Armenia Resident Mission, said at a press conference today. According to him, the growth is expected to accelerate to 6 percent in 2025 due to the successful implementation of the government's expanded infrastructure and housing investment programs Presenting ADB's latest Asian Development Outlook 2024 report, Fochman said despite slower year-on-year growth due to some weakening in external demand, expansion in construction and consumption services will remain stable....
04/11/2024A 13.2% year-on-year increase in housing prices registered in Yerevan in February 2024
A 13.2% year-on-year increase in housing prices was registered in Yerevan in February 2024, and a 0.5% increase compared to January 2024, Anna Nazaryan, Head of the Market Analysis Department at Armenia's Cadastre Committee said today. YEREVAN, April 10. /ARKA/. A 13.2% year-on-year ...
04/10/2024USAID to allocate nearly $8.5 million to assist refugees from Nagorno-Karabakh
Following the events last fall in Nagorno-Karabakh, USAID plans to provide nearly 8.5 million in psychosocial support and address housing and shelter needs for displaced persons and refugees , U.S., Assistant Secretary of the Bureau of European and Eurasian Affairs Erin McKee told a Friday press briefing. S YEREVAN, April 6. /ARKA/ Following the events last fall in Nagorno-Karabakh,...
04/06/2024EU and US to provide additional assistance to Armenia to help it diversify trade and strengthen economic resilience
... Recognizing the continuing challenges that Armenia faces in supporting and socially including over 100,000 displaced persons and refugees, the European Union and the United States intend to continue providing support to Armenia in its efforts to provide housing, training, employment opportunities and psycho-social support to those who need it, and to ensure the dignified living conditions of displaced persons. The EU swiftly mobilised EUR 18 million in humanitarian support and EUR 15 million in budget ...
04/05/2024AMD 606mln allocated from Armenia's state budget in 2024 to provide housing to families with children
The Armenian government today approved a decision on allocation of 606 million drams in 2024 for providing housing for families with children. YEREVAN, April 4. /ARKA/. The Armenian government today approved a decision on allocation of 606 million drams in 2024 for providing housing for families with children. The decision is aimed at supporting the ...
04/04/2024Armenian Interior Minister: 1,437 refugees from Nagorno-Karabakh have applied for citizenship
..., Karabakh President Samvel Shahramanyan issued a decree dissolving all state institutions as of January 1, 2024. Residents were forced to leave their homeland and move to Armenia. According to the Armenian government, more than 115,000 residents of Karabakh were accepted. One-time allowance of 100 thousand drams was given to 113 thousand people, and payments of 50 thousand drams are also given monthly to each family member to pay housing rent and utility bills (only to those who do not have their own real estate in Armenia).-0-
03/25/2024Congress of Local and Regional Authorities to provide grants to support Karabakh refugees
... cooperation and political tools at its disposal” has launched a grant scheme in support of municipalities hosting refugees from Karabakh in Armenia. Through a project implemented by the Center of Expertise for Good Governance in the context of the Council ... ... in support of refugees, ensuring protection of their human rights and overcoming challenges related to education, shelter and housing, social services, employment and integration. The deadline for submission of applications is 12 April 2024. More details ...
03/18/2024Armenia to extend 50 thousand drams support program for Nagorno-Karabakh refugees
... family member to pay apartment rent and 10,000 drams to pay utility bills. "At least we will extend it until the end of the year. At the end of the year we will think about what to do next," he said. Referring to the government-subsidized housing program, Pashinyan noted that if it involves only Karabakh refugees it would trigger tensions in society. "There are Armenian citizens with the same problem. We want to develop a program that will be available to Armenian citizens as well," he stressed.-0-
03/12/2024Demand for state support program for housing construction grows in Armenia's border regions
... should have a registered marriage. If previously only couples whose marriage was registered in Armenia could apply, now, thanks to new changes, couples whose marriage was regsitered in a foreign country can also apply. Low-income families from Nagorno-Karabakh can benefit from this program if one of the spouses has obtained Armenian citizenship. The amount of assistance will amount to 16 million drams. Th eligible applicants are those who will have to buy or already own a land plot in one of 80 settlements....
03/06/2024Government to release AMD 65.7 mln to repay loans of border village residents
... villagers, 77 people, as guarantors. According to Pashinyan, this problem is quite old, and because the villagers cannot repay the loans, they are not entitled to various government-subsidized programs, including the program of preferential loans for housing construction in border settlements. "Thus, Khachik village, which has strategic importance, is actually deprived of the opportunity to benefit from this program. Today we made a decision to allocate AMD 65.7 million from the state budget ...
02/29/2024Armenia develops program to assist Karabakh refugees in acquiring housing
... told the Public Television. YEREVAN, February 28. /ARKA/. The Government of Armenia will assist those refugees from Nagorno-Karabakh who have decided to obtain Armenian citizenship and build or buy a house in the country, Deputy Prime Minister Tigran ... ... present the government provides assistance in the amount of 16 million drams to those families who have decided to build or buy housing in the border regions. He added that the government plans to expand the list of areas covered by this program. "The ...
02/28/2024Azerbaijan's impunity for use of illegal force has led to new territorial claims to Armenia - Ararat Mirzoyan
... that the Government of Armenia undertakes all necessary actions to address the needs and rights of these people. Together with dealing with the short-term challenges-providing access to education, social protection, healthcare system, supporting their housing difficulties, we are already planning concrete actions to address mid-term and long-term needs aimed at further integration of Nagorno-Karabakh Armenians. There are more than thousand missing persons and enforced disappearances on the Armenian side from the wars of the 1990s and 2020. We have 23 prisoners of war and other detainees in Azerbaijan. We have an immense risk of destruction ...
02/28/2024Armenia prepares to tighten regulation of winnings games
... transfers to the accounts of foreign companies involved in the organization of games with winnings. The bill also has a social component. In particular, access to the games will be prohibited to people entitled to state benefits or living in social housing provided by the state. Badasyan said that the Defense Ministry and the Investigative Committee have made a proposal to restrict access to gambling for certain categories of their employees - these changes could be introduced between the first ...
02/21/2024Apartments in new buildings in Yerevan may rise in price by 10-15%, developers say
A sharp increase in duties and fees for issuing construction permits will lead to a 10-15% rise in housing prices in the capital's new buildings, Armen Sagapetoyan from the Association of Builders of Armenia, said today. YEREVAN, February 20. /ARKA/. A sharp increase in duties and fees for issuing construction permits will lead to a 10-15% rise ...
02/20/2024Government should ensure 7% economic growth in 2024 - Pashinyan
... the statistical annual average," he said speaking at a meeting convened to discuss macroeconomic, fiscal and budgetary framework of the 2025-2027 expenditure program. In this context, Pashinyan emphasized the infrastructure renovation program and housing construction program in border villages worth AMD 16 million. The latter, according to him, will give an opportunity to expand economic activity in the provinces. The Prime Minister also drew attention to the planned gradual introduction of ealth ...
02/15/2024Ardshinbank Redirects New Year Celebratory Funds to Support Families from Artsakh
... events and New Year gifts for employees. The resources saved from this decision will be dedicated to supporting one hundred displaced families from Artsakh. This assistance will specifically cover essential winter-related expenses, including utility and housing costs." Ardshinbank explained that candidates were selected from the list of bank clients most in need of financial support. The bank emphasized that this decision was unanimously supported by all employees. This initiative aligns with ...
12/26/2023Armenia to assume Artsakh's debt obligations - Finance Ministry
... December 22. /ARKA/. The Armenian Ministry of Finance has developed a plan to settle obligations of the government of the Nagorno-Karabakh Republic (NKR) and other NKR borrowers to Armenian financial institutions, which arose, among other things, during the ... ... loans. He specified that the plan will not apply to loans taken without collateral, as well as to loans taken for purchasing housing or conducting business activities in the territory of Armenia. -0-
12/22/2023IMF opens access to $24.3 mln for Armenia under SBA agreement
... and spending under-execution, notwithstanding the authorities’ prompt fiscal support to address the urgent needs of Nagorno-Karabakh’s refugees. Following the Executive Board’s discussion , Mr. Bo Li, Deputy Managing Director and Acting Chair, made ... ... absorbing external shocks, while building reserve buffers. “In the face of rising financial sector risks, particularly in the housing sector, the CBA should advance its prudential regulation and supervisory reforms. Efforts should focus on preserving capital ...
12/15/2023Armenian government increases the amount of subsidies to servicemen to buy housing
The Armenian government decided today to reallocate the budget of the Defense Ministry and release additional funds to finance a program developed to help the military personnel buy housing. YEREVAN, December 7. /ARKA/. The Armenian government decided today to reallocate the budget of the Defense Ministry and release additional funds to finance a program developed to help the military personnel buy housing. The amount of ...
12/07/2023Refugees from Nagorno-Karabakh can apply for state aid to build a house, but they need to obtain Armenian citizenship first
... the only condition is that at least one of the spouses must have Armenian citizenship. "I am sure that we will soon receive applications from refugee families," she said, adding that her confidence is based on the fact that so far 35 Nagorno-Karabakh families who moved to Armenia after the 2020 war have purchased housing in the border zone with the assistance of the government. As for the applications from Armenian citizens, she said 113 applications were submitted for buying or building homes in Tavush region, 30 in Syunik and another 30 in Vayots Dzor, 25 in ...
12/06/2023Armenia earmarks record 156 billion drams to support Nagoerno-Karabakh refugees in 2024
... billion drams for the payment of pensions, 2.6 billion for the improvement of demographic situation, 1.6 billion drams for supporting the unemployed, 1.5 billion as assistance to disadvantaged social groups and 15 billion drams as rent for temporary housing and utility expenses. On September 19, Azerbaijan launched what it called an "anti-terrorist" operation against ethnic Armenians in Nagorno-Karabakh, also known as Artsakh. The assault lasted 24 hours and ended with Azerbaijani forces gaining full control of the region for the first time since the 1990s war.This led to a vast refugee crisis, with entire ethnic Armenians fleeing along the ...
12/06/2023Some 6,800 households in Armenia received subsidies for energy-efficient housing renovation
Some 6,800 households in Armenia took advantage of a government-designed plan subsidizing loans for renovating apartments and private houses to make them more energy efficient YEREVAN, November 30. /ARKA/. Some 6,800 households in Armenia took advantage of a government-designed plan subsidizing loans for renovating apartments and private houses to make them more energy efficient Head of the Regional Energy Markets Division at the Ministry of Territorial Administration and Infrastructure Hovhannes...
11/30/2023What to invest in today?
... pay for itself and become a source of additional income. However, it is worth considering the risks and disadvantages of such a strategy. For example, the demand for the apartment may be lower than expected; funds will be required for the purchase of housing in the mortgage and repairs; a lot of time to prepare the apartment and search for tenants. Applying to such a strategy is a forward-looking job. It is not suitable for those who need results in the short term. Another way to invest in real estate ...
11/29/2023Armenian Deputy Prime Ministers highlight importance of EU support for addressing internal problems and external challenges
... said the head of the EU Delegation to Armenia Ambassador Vasilis Maragos was also in attendance. Khachatryan was said to speak about the measures implemented by the government to meet the priority needs of the people forcibly displaced from Nagorno-Karabakh. He emphasized the importance of creating conditions for them to generate their own income through work. He also spoke about their housing needs stressing the necessity of the EU countries' support for this. Grigoryan for his turn spoke about the possible challenges that await Armenia in the context of different scenarios of possible regional developments, the ways of overcoming ...
11/22/2023IMF expects growth in Armenia to ease, reaching 7 and 5 percent in 2023 and 2024, respectively
... from geopolitical tensions, tight global financial conditions, slowdown in external demand, and abrupt reversal of capital flows. “The authorities have responded proactively to the needs of the more than 100,000 ethnic Armenian refugees from Nagorno Karabakh, including by providing cash support to address essential needs, temporary shelters, as well as financial aid to cover accommodation and utility expenses. The ongoing comprehensive assessment of their medium-to-long term needs—including those related to housing, education, employment, and social protection—would assist in their integration in Armenia. “The draft 2024 budget appropriately accommodates refugee support, while ensuring macroeconomic stability. The fiscal deficit is expected to support ...
11/08/2023Central Bank chairman names measures to reduce inflation risk amid financial aid to Nagorno-Karabakh refugees
... those refugees and their family members whose bank account balance exceeds a certain threshold and who live in state-provided housing or are under state guardianship will not be eligible to the additional assistance. Earlier, all refugees regardless of ... ... one-time assistance of 100,000 drams. After the large-scale aggression of the Azerbaijani armed forces on September 19, Nagorno-Karabakh authorities accepted the proposal of the command of the Russian peacekeeping contingent for a ceasefire. Fearing persecutions ...
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