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Electricity prices for consumers in Armenia to remain unchanged in 2025
Electricity prices for consumers in Armenia will remain unchanged in 2025, according to a decision made on Monday by the Public Services Regulatory Commission (PSRC). YEREVAN, 30 December. /ARKA/. Electricity prices for consumers in Armenia will remain unchanged in 2025, according ...
12/30/2024Armenian Prime Minister: Armenian border guards start serving at Agarak checkpoint on the border with Iran
From today, only Armenian Border Troops will carry out border control at the Agarak checkpoint of the Armenian-Iranian state border, Prime Minister Nikol Pashinyan said on Monday. YEREVAN, 30 December. /ARKA/. From today, only Armenian Border Troops will carry out ...
12/30/2024National Weather Center plans to purchase two modern weather radars in 2026
... Azizyan, announced at a press conference. YEREVAN, December 30. /ARKA/.In 2026, the Hydrometeorology and Monitoring Center of Armenia plans to purchase two new weather radars, the center's director, Levon Azizyan, announced at a press conference. "According ... ... observations and sampling. He also mentioned that the deployment of the new radar stations will significantly contribute to the development of the "Early Warning System."
12/30/2024“Gazprom Armenia” CJSC's license extended until January 1, 2026
At a meeting on Monday, the Public Services Regulatory Commission of Armenia extended the license of “Gazprom Armenia” CJSC to import gas into Armenia for one year, until January 1, 2026. YEREVAN, December 30. /ARKA/. At a meeting on Monday, the Public Services Regulatory Commission of Armenia extended the license ...
12/30/2024Mostly dry weather expected in Armenia during the first ten days of January – Surenyan
In the first ten days of January 2025, mostly dry weather is expected in Armenia, said Gagik Surenyan, Deputy Director of the Hydrometeorology and Monitoring Center. YEREVAN, December 30. /ARKA/. In the first ten days of January 2025, mostly dry weather is expected in Armenia, said Gagik Surenyan, Deputy Director of the ...
12/30/2024Armenia does not plan to restrict flights to Russia
The authorities of Armenia do not plan to limit the operation of civil aviation flights to Russia following the crash of an Azerbaijani plane near Aktau, said Sona Arutyunyan, the press secretary of the Ministry of Territorial Administration and Infrastructure of Armenia,...
12/30/2024EDB names reason behind Armenia's economic slowdown in November
... ranging from 7.1% to 4.8%, for 2026 from 4.7% to 7%, and for 2027 between 5% and 6.2%. The EDB forecasts Armenia's GDP growth at 6% for 2024 and 5.5% for 2025. The World Bank (WB) expects 5.5% growth in 2024 and 5% in 2025. The IMF predicts 6% growth for Armenia in 2024 and 4.9% in 2025. The European Bank for Reconstruction and Development (EBRD) forecasts 6.2% growth in 2024 and 4.8% in 2025. The Asian Development Bank (ADB) anticipates 5.7% growth in 2024 and 6% in 2025. According to Fitch Ratings, Armenia's economy will grow by 6% in 2024 and 4.9% in 2025. S&P forecasts a 6.2% ...
12/30/2024Lydian Armenia donates 12.5 per cent of its shares to Armenian government
... government, ‘as it is the government that should share the responsibility with the private company in such a large project.’ In his turn, Armenian Economy Minister Gevorg Papoyan noted that implementation of such megaprojects is very important for Armenia. ‘The development of the Amoulsar mine is one of such megaprojects. Another megaproject is the North-South road and the third one is the Academic City,’ the Minister stated, adding that private companies often prefer to turn to the government for assistance in ...
12/28/2024Armenian Prosecutor General's Office recovers $30 million worth of illegally alienated property
Armenian Prosecutor General Anna Vardapetyan said today that within the framework of new powers delegated to her agency, law enforcement bodies managed to recover 8 real estate properties during 2023-2024 worth $30 million, which were alienated illegally....
12/27/2024Armenia to receive €12.9m grant from European Commission to ensure nuclear safety
The Armenian government on Friday approved a draft presidential decree on approval of the financial agreement with the European Commission on strengthening nuclear safety and improving radiation protection and radioactive waste management . YEREVAN, ...
12/27/2024Armenian government amends loan agreement with EDB on allocation of $200 million from ESDF for construction of Kajaran tunnel
On Friday, the Armenian government approved the proposal to sign an additional agreement No. 1 to the agreement between the Republic of Armenia and the Eurasian Development Bank (EDB) on the provision of an investment loan in the amount of $200 million to finance the construction of the Kajaran tunnel. YEREVAN, December 27. /ARKA/. On Friday, the Armenian government approved the proposal to sign an additional agreement ...
12/27/2024Benefits for highly qualified specialists to be reduced in Armenia
At a meeting on Friday, the Armenian government approved a decision to extend the program for subsidizing leasing contracts and loans for industry until December 31, 2025. This program, which was in effect from March 26, 2020, to December 1, 2024, includes a component for compensating ...
12/27/2024Armenian government imposes six-month ban on whitefish caviar exports
Armenia has imposed a 6-month ban on the export of whitefish caviar. The decision was made at a government meeting on Friday. YEREVAN, December 27. /ARKA/. Armenia has imposed a 6-month ban on the export of whitefish caviar. The decision was made ...
12/27/2024Armenia recovers 5 billion AMD of illegally acquired property
Illegally acquired property worth 5 billion drams has been returned to Armenia in a short period of time, said Srbuhi Galyan, Minister of Justice of the country. YEREVAN, December 27. /ARKA/. Illegally acquired property worth 5 billion drams has been returned to Armenia in a short period of time, said Srbuhi Galyan, ...
12/27/2024Armenia to extend subsidy program for industry leasing and loans
... meeting on Thursday, the Armenian government approved a decision to extend the program of subsidizing leasing contracts and loans for industry until December 31, 2025. The program had previously been in effect from March 26, 2020, to December 1, 2024. Armenian Economy Minister Gevorg Papoyan stated that the government subsidized interest payments ranging from 6% to 10% for companies that entered into contracts to purchase the latest high-tech equipment. He also mentioned that 6,559 contracts worth 341.8 billion drams were signed under the program, with 80% of the funds directed toward subsidizing small and medium-sized businesses. ($1 = 396.18 drams)
12/27/2024Armenia to revamp benefits system placing focus on employment
The Armenian authorities are planning to change their approach to providing benefits to the working-age population. YEREVAN, December 27. /ARKA/. The Armenian authorities are planning to change their approach to providing benefits to the working-age ...
12/27/2024Armenia approves Employment Strategy for 2025-2031
... modern labor market," he said. The minister also mentioned that, according to the latest data from 2022, around 15% of Armenia's workforce is underutilized, which, on one hand, points to untapped potential, and on the other, contributes to the rise ... ... including regional cities. Boost employment among non-studying and unemployed youth aged 18-29 through continuous skill development, expanding opportunities for their implementation, and increasing productivity. Increase employment among women by fully ...
12/27/2024Biometric system to operate in Armenia from second half of 2026 – Minister of Internal Affairs
A new biometric system, including new biometric passports and ID cards, is planned to be introduced in Armenia, according to Armenian Minister of Internal Affairs Arpine Sargsyan. YEREVAN, December 27. /ARKA/. A new biometric system, including new biometric passports and ID cards, is planned to be introduced in Armenia, according to Armenian Minister ...
12/27/2024Armenia and Japan sign convention on avoidance of double taxation
Armenian Finance Minister Vahe Hovhannisyan and the Ambassador Extraordinary and Plenipotentiary of Japan to Armenia, Aoki Yutaka, signed the Convention on the Avoidance of Double Taxation of Income between the Republic of Armenia and Japan, as well as ...
12/27/2024Armenian Minister of Internal Affairs reports 2.2% reduction in crime rate over 11 months
... Armenia has decreased by 2.2% compared to last year, said Arpine Sargsyan, head of the Ministry of Internal Affairs. “A decline is observed in almost all categories of crime, including theft and drug trafficking,” she said on the Public Television of Armenia. However, Sargsyan noted that a decline in crime does not guarantee improved quality, as reforms in the police sector focus on two main areas: the development of institutions and the establishment of standards. She explained that the work on crime prevention is hindered by the lack of a unified national approach to the issue. “A comprehensive crime prevention strategy would allow us to address these ...
12/27/2024Former head of Armenian Water Committee charged, placed under house arrest
Ex-chairman of Armenia's Water Committee Vahagn Gevorgyan has been charged as part of a criminal case initiated by the Anti-Corruption Committee. YEREVAN, 26 December. /ARKA/. Ex-chairman of Armenia's Water Committee Vahagn Gevorgyan has been charged as part of ...
12/26/2024Former Artsakh State Minister: Yerevan and Baku will not sign peace agreement
There will be no peace document between Armenia and Azerbaijan, former Artsakh state minister and ex-ombudsman Artak Beglaryan said on Thursday. YEREVAN, December 26. /ARKA/. There will be no peace document between Armenia and Azerbaijan, former Artsakh state minister and ex-ombudsman Artak ...
12/26/2024Pashinyan names key priorities of Armenia's chairmanship of EAEU
... strengthening of international ties," he said. Pashinyan also mentioned that priorities included, among other things, the development of cooperation potential and digital technologies, as well as the consolidation of IT communities and the introduction of ... ... complex. However, the prime minister did not provide details or results of activities in these areas. Since January 1, 2024, Armenia has chaired the EAEU bodies—the Supreme Eurasian Economic Council, the Eurasian Intergovernmental Council, and the Council ...
12/26/2024Former Artsakh state minister calls Baku's offer on prisoners "bait"
The offer from the Prosecutor General’s Office of Azerbaijan to Armenia to cooperate on the issue of Armenian prisoners is nothing more than another bait or political demand. YEREVAN, December 26. /ARKA/. The offer from the Prosecutor General’s Office of Azerbaijan to Armenia to cooperate on the issue of Armenian ...
12/26/2024Ardshinbank once again recognized as Private Bank of the Year and Retail Bank of the Year by Global Banking and Finance Awards magazine
... services, setting new standards, applying best practices and innovations, and thus shaping the future of Armenia's banking system. Awards in two categories from such a prestigious international magazine not only reinforce our position as a leader in Armenia’s financial sector but also reaffirm the soundness of our strategic development direction." It is worth noting that the Global Banking and Finance Awards was established in 2011 by the Global Banking & Finance Review magazine, based in the United Kingdom, to recognize significant changes in the global financial community....
12/26/2024Gas supply to Armenia from Russia interrupted for 6 hours due to emergency restoration work
Gas supply to Armenia was interrupted for 6 hours on December 26, according to the press service of “Gazprom Armenia”. YEREVAN, December 26. /ARKA/. Gas supply to Armenia was interrupted for 6 hours on December 26, according to the press service of “Gazprom ...
12/26/2024“Gazprom-Armenia” to invest about 143 billion drams in 2025-2029
The Public Services Regulatory Commission (PSRC) of Armenia has approved the investment program of “Gazprom-Armenia” CJSC for 2025-2029. YEREVAN, December 26. /ARKA/. The Public Services Regulatory Commission (PSRC) of Armenia has approved the investment program of “Gazprom-Armenia” CJSC for ...
12/26/2024Dilijan to be transformed into a major tourist hub
... Vision Report as part of the “Tourism and Regional Infrastructure Improvement Program (TRIP)”, which is being implemented jointly with the World Bank. The minister emphasized the importance of a collaborative discussion on actions for the development of the Dilijan community. The discussion was attended by Hayk Galumyan, the Governor of the Tavush region of Armenia; Lusine Gevorgyan, the head of the Armenian Tourism Committee; David Sargsyan, the Mayor of Dilijan; representatives of other relevant bodies; and investors. It was previously reported that the World Bank plans to provide $100 million to Armenia ...
12/26/2024First President of Armenia: Artsakh lost due to Pashinyan's adventurism
Armenia's first president Levon Ter-Petrosian published a statement addressed to Prime Minister Nikol Pashinyan on his Facebook page. YEREVAN, 26 December. /ARKA/. Armenia's first president Levon Ter-Petrosian published a statement addressed to Prime ...
12/26/2024Russia allocates $68m to fund school meals programme in Armenia
... are being used to develop school infrastructure and improve the nutrition of students,’ Zakharova said at a press briefing on Wednesday. According to her, within the framework of the UN World Food Programme, in addition to providing assistance to Armenian schools, Russia actively uses the potential of other UN organizations. ‘The UN Development Program is developing the country's rural regions, nature tourism, creating jobs for young people, increasing Armenia's resilience to climate change," Zakharova said.,’ Zakharova said.
12/26/2024Mandate of OSCE Minsk Group co-chairs on Karabakh settlement no longer relevant: Zakharova
... of Baku and Yerevan to liquidate the relevant institutions.’ Zakharova said that the US and French co-chairs of the Minsk Group ceased communication with their Russian colleague in February 2022, and did so proactively. ‘Communication ceased with Armenia's recognition of Nagorno-Karabakh as an integral part of Azerbaijan following the outcome of the Armenia-Azerbaijan-EU-France summit on 6 October 2022 in Prague and the drastic change of the situation on the ground in September 2023,’ Zakharova ...
12/25/2024VTB (Armenia) supports the concert of jazzman Levon Malkhasyan
... Radio, the jazz musician performed world-renowned works and original compositions. "Support for cultural initiatives is an integral part of the bank's strategy within the framework of social responsibility, allowing us to contribute to the development of the country’s cultural life. We are honored to support such talented musicians as Levon Malkhasyan, who is a living legend of Armenian jazz," commented Ara Avagyan, CEO and Chairman of the Directorate of VTB (Armenia). Many renowned Armenian musicians and artists, as well as musicians from Russia, performed at the festive event alongside the invited guests. The activities ...
12/25/2024Armenia's work in the CIS benefits both sides: Peskov
Armenia's involvement in the CIS is mutually beneficial, bringing advantages both to the country and to the union. YEREVAN, December 25. /ARKA/. Armenia's involvement in the CIS is mutually beneficial, bringing advantages both to the country and to ...
12/25/2024Armenia short of 200 billion drams in tax revenues in 2024 - Finance Ministry head
During a press conference on the results of 2024, Armenian Finance Minister Vahe Hovhannisyan stated that the inability to implement capital expenditures was due to a shortfall of 200 billion drams in tax revenues. YEREVAN, December 25. /ARKA/. During a press conference on the results of 2024, ...
12/25/2024Armenia's foreign trade turnover jumps 54% to $28.2 billion
According to current statistics, Armenia's foreign trade turnover in January-November 2024 amounted to $28,179.6 million, which is 54% higher than the figure for the same period in 2023, the National Statistical Committee of Armenia reports. YEREVAN, December 25. /ARKA/. According ...
12/25/2024Ardshinbank Finances the Construction of an Innovative Greenhouse Facility
... 25. /ARKA/. A new greenhouse complex has been launched with the financing of Ardshinbank and the subsidy of the Government of Armenia. The opening of the first phase of the Nouveau Village project took place on December 23 in the village of Nor Geghi, ... ... with the French company Richel Group, which has 60 years of experience in the production of greenhouses and specialized equipment. Ardshinbank's investment in the project is around 3 billion drams. The greenhouse complex occupies 5 hectares of the 26-hectare ...
12/25/2024Electricity generation in Armenia increases by 4.5% in 11 months
According to operational statistics, electricity production in Armenia increased by 4.5% in January-November 2024 compared to the same period in 2023, as reported by the National Statistical Committee of Armenia. YEREVAN, December 25. /ARKA/. According to operational statistics, electricity production in Armenia ...
12/25/2024Consumer prices in Armenia increase by 0.2% in 11 months
... 4% in 2026. The International Monetary Fund (IMF) predicts that prices in Armenia will rise by 3.1% in 2024 and by 3.7% in 2025. The Asian Development Bank (ADB) forecasts inflation to be 0.8% in 2024, with a rise to 2.5% in 2025. The Eurasian Development Bank (EDB) expects inflation in Armenia to be 1.8% by the end of 2024 and 3.1% by the end of 2025.
12/25/2024Armenia's economic activity growth slowed to 7.4% in first 11 months of 2024
... Central Bank's monetary policy report for the fourth quarter of 2024, Armenia's GDP growth is expected to be 6% by the end of the year. Forecasts for 2025 range between 7.1-4.8%, for 2026 between 4.7-7%, and for 2027 between 5-6.2%. The Eurasian Development Bank (EDB) projects 6% GDP growth for Armenia in 2024 and 5.5% in 2025. The World Bank expects 5.5% growth in 2024 and 5% in 2025. The International Monetary Fund (IMF) forecasts 6% growth for 2024 and 4.9% for 2025. The European Bank for Reconstruction and Development (EBRD) anticipates ...
12/25/2024Several petrol stations in Armenia fined 220 million drams for selling low-quality fuel
The Commission for the Protection of Competition (CPC) of Armenia has imposed a fine of 220.4 million drams on five companies and one individual entrepreneur for selling gasoline that does not meet required standards. YEREVAN, December 25. /ARKA/. The Commission for the Protection of Competition (CPC) of ...
12/25/2024State department responds to Aliyev's claims of U.S. arming Yerevan
Official Washington has responded to the Azerbaijani president’s accusations regarding the arming of Armenia. YEREVAN, December 25. /ARKA/. Official Washington has responded to the Azerbaijani president’s accusations regarding the arming of Armenia. The State Department told Radio “Azatutyun” that U.S. security assistance to both Armenia and ...
12/25/2024New system for assessing insecurity being developed in Armenia
A new system for assessing insecurity is being developed in Armenia, which is one of the key institutional reforms of the Ministry of Labor and Social Affairs, said the head of the department, Narek Mkrtchyan. YEREVAN, December 25. /ARKA/. A new system for assessing insecurity is being developed in Armenia,...
12/25/2024Deputy Mayor: raising the price of parking on ‘red lines’ in Yerevan helped avoid ‘shameful situation’
... are marked by red lines. The city is divided into zones. For example, zone A covers the downtown- in total about 40 streets and avenues, where parking is more expensive. Grigor Iskandaryan, a member of the Council of Elders from the opposition Mother Armenia faction, recalled today that recently the Administrative Court had invalidated the increase of parking prices, but the Municipality continues to charge for car parking. He also noted that contrary to the position of the city authorities, the increase ...
12/24/2024Armenian Ministry of Internal Affairs withdraws mass video surveillance installation project
Armenian Ministry of Internal Affairs has withdrawn the draft law on the installation of video surveillance systems by business entities on their premises. YEREVAN, December 24. /ARKA/. Armenian Ministry of Internal Affairs has withdrawn the draft ...
12/24/2024Armenian banking system profit in 2024 to exceed 300 billion drams
... exceed 300 billion drams, said Martin Galstyan, Chairman of the Central Bank of Armenia. YEREVAN, December 24. /ARKA/. The profit of Armenia's banking system in 2024 will exceed 300 billion drams, said Martin Galstyan, Chairman of the Central Bank of Armenia. "The year 2024 can be characterized as one of growth and sustained overall development. If we look at the indicators of the financial and banking system, it becomes clear that the year has been quite successful and profitable. Specifically, we are talking about a return on equity (ROE) of 18% for the year," Galstyan said in an ...
12/24/2024Armenia and US discuss direct flights and “Crossroads of Peace” project
The new Minister of Territorial Administration and Infrastructure, David Khudatyan, and the US Ambassador to Armenia, Kristina Kvien discussed the implementation of joint Armenian-American programs. YEREVAN, December 24. /ARKA/. The new Minister of Territorial Administration and Infrastructure, David Khudatyan, and the US Ambassador to Armenia, Kristina ...
12/24/2024Iran ratifies free trade agreement with EAEU
... well as authorization for the exchange of documents. Iran and EAEU reached a preferential trade agreement in 2018, which came into effect on October 27, 2019. The union previously signed an interim agreement on free trade with Iran on March 14, 2022. Armenian parliament ratified the agreement earlier this year. The volume of trade between Iran and the EAEU increased by 11% in the first nine months of 2024 compared to the same period last year. The EAEU is an intergovernmental economic association ...
12/24/2024More than 4 thousand foreigners granted temporary residence right in Armenia in 2024
Some 5,410 foreigners applied for temporary residence status in Armenia in 2024 and 4,280 of them received it, Aram Melkonyan, a a senior official from the Migration and Citizenship Service, told a press conference today. YEREVAN, 23 December. /ARKA/. Some 5,410 foreigners applied for temporary residence status ...
12/23/2024More than 20 thousand people applied for Armenian citizenship in 2024
Some 20,703 people have applied for Armenian citizenship in 2024, while another 4,034 people have applied for its termination, Migration and Citizenship Service reported. YEREVAN, 23 December. /ARKA/. Some 20,703 people have applied for Armenian citizenship in 2024, while another 4,...
12/23/2024From a small family dream to a large business: Danielyan sweets (video)
... brands produces various cakes and pastries, high quality bakery products and sweets. Danielyan's production and sales outlets are located in Spitak, Vanadzor, Artik and Yerevan. The production partner of the company is Acba Leasing, the leader of the Armenian leasing market. With its support the company was enriched with equipment for automation of baking processes of bread, bakery and confectionery products, as well as refrigeration equipment, production cookers and ovens. ‘The base of all our enterprises is located in Spitak. We started doing business right after the ...
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