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Armenian Prime Minister: Armenian border guards start serving at Agarak checkpoint on the border with Iran
... troops will perform border service at the Agarak border checkpoint on the border with Iran. On 8 October 2024, Armenian Prime Minister's Press Secretary Nazeli Baghdasaryan said that during a meeting between Armenian Prime Minister Nikol Pashinyan and Russian President Vladimir Putin, an agreement was reached that from 1 January 2025, Armenian National Security Service border troops will participate in the guarding of state borders with Iran and Turkey. It was specified that only Armenian border guards will serve at the checkpoint on the border with Iran. -0-
12/30/2024EDB names reason behind Armenia's economic slowdown in November
... in October) due to a decline in the industrial sector (-19% y/y in November after +5.2% y/y in October), caused by the exhaustion of the positive effects from increased foreign trade and precious metals processing," the EDB's weekly macro review states. It is noted that, in this context, export (+73.9% y/y) and import (+41.5% y/y) indicators slowed in January-November, with both showing negative dynamics in November (down by 35% y/y for exports and 22.8% y/y for imports). "Domestic demand ...
12/30/2024Armenian 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. YEREVAN, 27 December. /ARKA/. Armenian Prosecutor General Anna Vardapetyan said today that within the framework of new powers delegated to her agency, law enforcement ...
12/27/2024Armenia to revamp benefits system placing focus on employment
... benefits to the working-age population. These plans were announced by Armenia's Minister of Labor and Social Affairs, Narek Mkrtchyan, at a government meeting during the discussion of the “Employment Strategy for 2025-2031”. In particular, the minister stated that when an application for benefits is submitted, the possibility of employment will be considered first, followed by the issue of providing benefits. "We have about 30,000 working-age citizens who are part of the benefits system. These ...
12/27/2024Armenia approves Employment Strategy for 2025-2031
... combating unemployment. YEREVAN, December 27. /ARKA/. On Thursday, the Armenian government approved the Employment Strategy for 2025-2031, with the main goal of combating unemployment. Armenian Minister of Labor and Social Affairs Narek Mkrtchyan stated that unemployment in Armenia is both seasonal and structural. "The reasons are varied, but studies show that a portion of the potentially employable population is not competitive and lacks the skills necessary to meet the needs of the modern ...
12/27/2024Biometric system to operate in Armenia from second half of 2026 – Minister of Internal Affairs
... 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 of Internal Affairs Arpine Sargsyan. She stated that a tender was announced as part of the collaboration between the state and the private sector. Currently, three applicants have been registered, and they are expected to submit their proposals in early 2025. Sargsyan mentioned that the winner ...
12/27/2024Armenian Minister of Internal Affairs reports 2.2% reduction in crime rate over 11 months
... incidents this year, and criminal cases have been opened in response. However, these incidents should be viewed within the broader framework of crime prevention. The emergence of criminal subcultures is not accidental, as it stems from certain goals. The state’s task is to neutralize these goals and impose responsibility through a strict punitive policy for identified incidents,” she said. She also added that this year, the number of confiscated and voluntarily surrendered weapons and ammunition increased ...
12/27/2024Former 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 Beglaryan said on Thursday. "This ...
12/26/2024Former Artsakh state minister calls Baku's offer on prisoners "bait"
... 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 prisoners is nothing more than another bait or political demand. This was stated on Thursday by former State Minister and former Ombudsman of Artsakh, Artak Beglaryan, who added that this demand could further become a subject of negotiations and an additional political lever against Armenia and the Armenian people. "With ...
12/26/2024VTB (Armenia) supports the concert of jazzman Levon Malkhasyan
... of Levon Malkhasyan, an Honored Artist of the country. YEREVAN, December 25. /ARKA/. With the support of VTB (Armenia), a concert was held in honor of the 80th anniversary of Levon Malkhasyan, an Honored Artist of the country. Accompanied by the State Jazz Orchestra and the Pop and Symphony Orchestra of the Public 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 ...
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, Armenian Finance Minister Vahe Hovhannisyan ...
12/25/2024Ardshinbank Finances the Construction of an Innovative Greenhouse Facility
... for agricultural products. “Ardshinbank welcomes such innovative business projects. The funds invested by the bank and the state are targeted towards expanding the potential of both the bank and its clients - enterprises and farms, and therefore provide ... ... addition, hydroponic structures allow for plants to grow in a natural environment. The products are expected to be exported to the Russian Federation, the United Arab Emirates and Qatar. “Our goal is to reach a yield of 1.5 thousand tons per year. It is planned ...
12/25/2024Consumer prices in Armenia increase by 0.2% in 11 months
... industrial goods in January-November 2024 increased by 3.4% compared to the same period in 2023. In November 2024, prices for industrial goods grew by 6.1% year-on-year, but decreased by 0.2% compared to October. Inflation Figures and Forecasts The Armenian state budget for 2024 sets inflation at 4% (±1.5%), and for 2025, it is forecasted at 3% (+1%). In November, the 12-month inflation rate was 1.4%. According to the Central Bank's monetary policy report for the fourth quarter of this year, inflation in ...
12/25/2024Armenia's economic activity growth slowed to 7.4% in first 11 months of 2024
... drams during the reporting period, a 6.3% increase compared to the same period in 2023. In November, growth was 10.4% year-on-year and 0.5% month-on-month. Economic Outlook and Forecasts: Economic growth in Armenia for 2024 is forecast at 7% in the state budget, and 5.1% in the budget for 2025. According to the 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 ...
12/25/2024State department responds to Aliyev's claims of U.S. arming Yerevan
... assistance to both Armenia and Azerbaijan is aimed at strengthening cooperation with U.S. and NATO forces to enhance the professionalism of their armies, as well as to reinforce the two countries' shared border with Iran. In his latest interview with Russian state television, Azerbaijani President Ilham Aliyev claimed that France is the leader in arms supplies to Armenia, followed by India and the United States. “The United States ensures that its security assistance to both Armenia and Azerbaijan is not ...
12/25/2024New system for assessing insecurity being developed in Armenia
... 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. "The system that has been in place for over 20 years constantly makes people dependent on the state in terms of social support and does not encourage work. The goal set in the government program to eliminate extreme poverty by 2026 includes the introduction of a new system for assessing insecurity, which will encourage people to work," he ...
12/25/2024Armenian Ministry of Internal Affairs withdraws mass video surveillance installation project
... draft, an approach was proposed that was deemed acceptable by several interested parties. According to this approach, the Ministry of Internal Affairs of Armenia will be granted access to the video surveillance systems of local government bodies and state agencies," the ministry said in a statement. The Ministry expressed its readiness to organize discussions with all interested parties as part of a new initiative. About the Bill Earlier, the bill was adopted by parliament in the first reading,...
12/24/2024Project of future metro station “Ajapnyak” in Yerevan to undergo comprehensive examination
... constructing the Ajapnyak metro station is tentatively estimated at around $50 million. The Armenian government was to allocate 750 million drams for the design work, while the city hall was to provide an additional 554 million drams. Last year, the Russian company "Metrogiprotrans" was selected as the winner of the tender for the station’s design. The draft state budget for 2025 already includes approximately 9.6 billion drams (about $24.6 million) for the construction of the Ajapnyak station. The issue of cooperation with the Eurasian Fund for Stabilization and Development, as well as other donors, is under ...
12/23/2024Yerevan City Hall launches new website for easy travel ticket purchases
... regardless of their place of registration (15% discount) Students who have lost one parent or are orphans (free travel) People with disabilities of the 1st and 2nd degrees (free travel) Orphanage residents and nursing home residents People receiving state benefits or assistance (20% discount) Heroes of the former USSR, Socialist Labor Heroes, national heroes of Armenia, and holders of the Order of Glory (free travel) Parents with four or more children (free travel)
12/23/2024Russia to supply more than 1.5 million doses of FMD vaccine to Armenia
... development and strengthening of partnership relations between Russia and Armenia,” the REC representative added. The contract was signed during the 23rd session of the Intergovernmental Commission on Economic Cooperation between Russia and Armenia. The Russian Export Centre (REC Group, part of VEB.RF) is a state agency supporting non-resource non-energy exports, providing financial and non-financial assistance to companies of all industries at all stages of entering foreign markets.
12/23/2024World Bank names main factor for slowdown in Armenia's economic activity growth in October
... September, mainly due to electricity and energy (21.8%). The manufacturing industry grew by 6.6%. Mining industry decreased by 10.1%. In total, the economic activity index from January to October increased by 8.1%. The economic growth of Armenia in the state budget for 2024 is envisaged at 7%, and in the budget for 2025 – at 5.1%. According to the Central Bank, Armenia's GDP growth is expected to be at the level of 6% in 2024. The forecast for 2025 is within 7.1-4.8%.
12/20/2024Armenian delegation leaves for Moscow for economic cooperation talks with Russia
... Mnatsakan Safaryan, Deputy Minister of Education, Science, Culture, and Sports Artur Martirosyan, Deputy Minister of Territorial Administration and Infrastructure Armen Simonyan, Deputy Minister of Economy Narek Hovakimyan, and Deputy Chairman of the State Revenue Committee Ashot Muradyan.
12/20/2024Illegal alcohol and cigarette trafficking uncovered in Armenia (VIDEO)
The State Revenue Committee (SRC) of Armenia has uncovered cases of illegal circulation of beverages and tobacco products, the press service of the agency reported. YEREVAN, December 20. /ARKA/. The State Revenue Committee (SRC) of Armenia has uncovered ...
12/20/2024Zangezur Copper and Molybdenum Combine may offer Armenian government's stake in IPO - Pashinyan
... total stake in the plant to 21.875 percent. “I think that in the future we should strive to apply such rules so that citizens can obtain the combine’s shares. We have already discussed and decided that the company should develop towards placing the state's share through an open subscription, which is commonly called an IPO. But for this, the company must be at a completely different level of rehabilitation and transparency, and now the government must use its participation in accordance with this ...
12/20/2024Armenian-Azerbaijani settlement issue remains crucial for Washington - State Department
In response to a question about whether the United States is disappointed that its efforts have not led to the normalization of Armenian-Azerbaijani relations, U.S. State Department spokesman Vedant Patel said that the current administration will continue working on this issue until its final day. ...
12/20/2024In case of signing peace treaty with Azerbaijan, the idea of withdrawal of mutual lawsuits is acceptable to Armenia - Pashinyan
... lasting escalations,” Pashinyan said. The UN International Criminal Court (ICC) is considering Armenia's lawsuit against Azerbaijan, filed on 28 September 2023, demanding that the country eliminate all forms of racial discrimination due to years of state-level propaganda of hatred and Armenophobia. Yerevan also expects Baku to refrain from taking punitive measures against former Artsakh leaders currently imprisoned in Azerbaijan. In addition, Armenia insists on a ban on the demolition and alteration ...
12/20/2024Armenia agrees with Turkey on assessment of requirements for crossing the border on Gyumri-Kars railway - Mirzoyan
... the vision of inclusiveness and equitable use of regional infrastructure and building a prosperous future for all interested parties, this project aims at the development of communications between the countries of the region with full respect for the state sovereignty and territorial integrity, and principles of equality and reciprocity. He said also that Armenia and Turkey have already agreed to jointly assess the technical requirements for the border crossing by the Gyumri-Kars railway. At the same ...
12/20/2024Pashinyan says there is constructive mood in Armenian-Azerbaijani border delimitation process
... region near Kirants village bordering Azerbaijan a success. On August 30 of this year, Yerevan and Baku signed a regulation (set of rules) regarding the joint work of the Armenian and Azerbaijani commissions on the delimitation and demarcation of the state border. After completing internal procedures, on October 24, the President of Armenia signed a law ratifying the regulations. On the same day, the President of Azerbaijan signed a similar law.The regulations address procedural matters between the ...
12/19/2024Armenian government to raise housing compensation for Alaverdi flood victims
... province, who were affected by the May flooding. Minister of Territorial Administration and 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 ...
12/19/2024Another meeting of Armenian and Azerbaijani commissions on border delimitation may be held soon - Armenian Deputy Prime Minister
... take place in the near future,’ he told reporters on Wednesday. Grigoryan explained that at the stages of discussion and approval of the Regulations on the joint work of the Armenian and Azerbaijani commissions on delimitation and demarcation of the state border, an agreement was reached that the sides should hold meetings and continue their work after the document comes into force. Answering the question whether Armenia will propose to delimit the Armenian territories occupied by Azerbaijan at the ...
12/18/2024Acba Leasing offers 0.5% interest rate for purchase of construction, production and warehouse equipment
... through Acba Leasing at an effective annual interest rate of 0.5%, reports the press service of Acba Bank. "Acba Leasing and Metatech have been cooperating for many years, and today this cooperation is gaining new life. Within the framework of the state subsidy program, we offer the best financing conditions to entrepreneurs working in the construction, manufacturing, and warehousing sectors: prepayment starts from 10%, and the actual annual interest rate from 0.5%," said Vahagn Shmavonyan,...
12/18/2024IMF: Armenia's 2025 budget well-balanced
Armenia's 2025 state budget is appropriately balanced between maintaining macroeconomic stability and addressing priority expenditures, including refugee integration and high security spending, according to IMF Deputy Managing Director and Acting Chairman Bo Li. ...
12/18/2024IMF forecasts economic growth slowdown in Armenia
... demand, real GDP growth is projected to reach approximately 6% in 2024, moderating to around 5% in 2025. In the medium term, growth is expected to slow to around 4.5%, though accelerating structural reforms could enhance growth potential," the fund stated. As noted by IMF Deputy Managing Director and Acting Chairman Bo Li, Armenia's economic outlook is positive, characterized by sustainable growth and low inflation. "The results of the Stand-By Arrangement program are strong, but consistent,...
12/18/2024Smuggling of 25 thousand boxes of cigarettes from Iran stopped in Armenia (VIDEO)
... have uncovered another attempt of smuggling a large consignment of cigarettes. YEREVAN, 16 September. /ARKA/. Armenia’s State Revenue Committee (SRC) said its officers have uncovered another attempt of smuggling a large consignment of cigarettes.... ... shops in Iran and Georgia, were discovered during the last six months. Also, more than 7 thousand e-cigarettes sticks from the Russian Federation, declared in EEU cargoes either by wrong code or not by name, were also detected. -0-
12/17/2024Dalan Technopark and OVIO sign memorandum of co-operation
... the partnership is to join forces to create better working conditions for the IT sector,’ the technopark's press office said. In developing the techno-sector and making Armenia more attractive for global giants, both the privileges granted by the state and ensuring conditions in the buildings in accordance with international standards, as well as secure data processing and storage play an important role. The first and unique of their kind in Armenia, two projects - OVIO Data Processing Centre ...
12/17/2024Armenia faces financial trilemma – State Revenue Committee Head
Eduard Hakobyan, the head of Armenia's State Revenue Committee, stated that Armenia is facing a trilemma that many countries are experiencing. YEREVAN, December 17. /ARKA/. Eduard Hakobyan, the head of Armenia's State Revenue Committee, stated that Armenia is facing a trilemma that many ...
12/17/2024About 15% of Armenia's labour resources underutilized: employment strategy for 2025-2031 presented
... as entrepreneurship development, especially among middle-aged women (30-40 years old). - Integration of family and social benefit recipients without work restrictions by increasing the efficiency of the social benefit system. - Transformation of the state employment policy system aimed at developing human capital, increasing high-productive jobs and reducing the mismatch between labour demand and supply. As a result of the implementation of the strategy, the following results are expected to be achieved ...
12/16/2024Yerevan's largest park to be built in northern part
A new city park will be created on an area of about 30 hectares adjacent to Myasnikyan Avenue and Lvovyan Street, said Armen Begoyan, director of the “Greening and Environmental Protection State” Non-Commercial Organization, on Monday. YEREVAN, December 16. /ARKA/. A new city park will be created on an area of about 30 hectares adjacent to Myasnikyan Avenue and Lvovyan Street, said Armen Begoyan, director of the “Greening and ...
12/16/2024Pashinyan: Changes to turnover tax not aimed against small businesses
Armenian Prime Minister Nikol Pashinyan stated that the changes to the turnover tax, which will come into effect on January 1, 2025, are not intended to put pressure on small businesses. YEREVAN, December 16. /ARKA/. Armenian Prime Minister Nikol Pashinyan stated that the changes to the ...
12/16/2024EDB expects Armenia's refinancing rate cut cycle to end in H1 2025
... percentage points to 7.0% at its meeting on December 10. The decision was made amid slowing wage growth and lower inflation expectations. Consumer price growth was 1.4% y/y in November, compared to 0.6% y/y in October," the EDB weekly macro review states. Armenia’s state budget for 2025 , approved on December 4, sets the 12-month inflation target at 3% with an acceptable range of ±1 percentage point. The Central Bank decided to lower the target, which had been set at 4% (±1.5 percentage points) ...
12/16/2024Armenia 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 with state support. This decision was made ...
12/12/2024Armenian PM says he is freesing in government dacha
... who live there think about asking for wood stoves to be sent from Ijevan (Pashinyan's native town) so that they can then put a chimney out the window,’ he said. Pashinyan then added that the issue is not that he is cold, but that the money from the state budget is being spent to buy natural gas for heating, and the buildings are still cold. ‘OK, we freeze once, twice, three, four times, then we say, ‘Let's switch on the electric heater.’ The gas is burning, but it doesn't warm, so we switch ...
12/12/2024EDB excludes risk of “overheating” in Armenian economy from construction and lending (EXCLUSIVE)
... “overheating” in the Armenian economy due to increased investments in construction and lending. YEREVAN, December 12. /ARKA/. There is no risk of “overheating” in the Armenian economy due to increased investments in construction and lending. This was stated by Alexei Kuznetsov, head of the EDB's analytical work directorate, in an interview with ARKA news agency "Certain conditions must be in place for “overheating” to occur, including excess consumer demand, inflation, and an increase in ...
12/12/2024Armenian PM emphasizes commitment to internationally recognized territory
... security buffer for Armenia. "There has been talk about the inadmissibility of maps from the USSR, a non-existent country. I must say frankly that this approach is very dangerous for Armenia, as rejecting maps from the Soviet era could mean rejecting statehood and independence. We gained our independence on the territory of Soviet Armenia, and the international community recognized us as such," the prime minister said in response to questions from Facebook users. He repeated his point, which ...
12/12/2024EBRD and EU, together with Galt & Taggart and Ameria Management Advisory launch a programme to support the Armenian capital market
... task of informing the public about risks and opportunities remains crucial. This requires comprehensive work with both issuers, potential investors and shareholders. Answering a question from the ARKA news agency about his assessment of the current state of the Armenian capital market, Jrbashyan noted that “interesting developments are being observed”. "The bond market is developing quite actively. This year, we will see an unprecedented volume of bond turnover on the stock exchange. Bonds ...
12/11/2024Armenia's economy to grow 6% in 2024, Central Bank head
... regulator noted that they are also expected to be close to potential growth, around 5%. "We will see solid growth in 2025," Galstyan concluded. Figures and Forecasts for the Armenian Economy Armenia's economic growth is projected at 7% in the 2024 state budget, and 5.1% in the 2025 budget. The EDB forecasts Armenia's GDP growth at 6% in 2024 and 5.5% in 2025. The World Bank expects it to grow by 5.5% in 2024 and 5% in 2025. The IMF forecasts a 6% growth in 2024, with 4.9% growth in 2025. The EBRD ...
12/10/2024Head of developers' association expects no drop in Armenia's real estate prices
..., but the head of ‘’Armenian Developers Association’’, Gurgen Grigoryan, disagrees. "There will be no significant change in prices. Why? Because the cost of construction is constantly increasing. If the policies being implemented by the state, municipalities, and utility companies continue — including fees for connections, duties, local payments, and the current tax changes — all of this will ensure that the cost of construction does not decrease. Given that production costs remain ...
12/10/2024Armenian Foreign Minister says 15 out of 17 articles of draft peace treaty with Azerbaijan agreed upon
... treaty even before the COP29 climate summit in Baku. Unfortunately this did not happen, but now we are ready to do it in a short time. One can say that this is a moment of hope. I would say we are very close (to it). Despite the tragic past of our two states and societies, there is a chance to turn the page. The past has been difficult. It is difficult to accept, forget, forgive, but enough blood has been spilled in our region and now we have a chance to look into the future,’ Mirzoyan said. According ...
12/09/2024Journalist of ARKA news agency wins 10th EDB media creative contest
... outlets in Armenia. Today ARKA media holding also includes a portal on telecommunications and high technologies www.telecom.arka.am and a financial and banking portal www.armbanks.am . The information of ARKA agency is regularly accessed and used by state and commercial structures, banks, international financial organisations, consulting firms, embassies and media.
12/09/2024Armenia's European orientation linked to democratic reforms - Alen Simonyan
Armenia's European orientation is the result of natural selection and follows from the agenda of democratic reforms in our state, said Armenian NA Speaker Alen Simonyan at the opening of the PACE Committee on Legal Affairs and Human Rights meeting in Yerevan. YEREVAN, December 9. /ARKA/. Armenia's European orientation is the result of natural selection and follows from ...
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