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Air transportation between Armenia and Russia increased by 12% in 2024 - Mher Grigoryan
... Minister Mher Grigoryan. “As of December 15 of this year, more than 2.4 million passengers and more than 28 thousand tons of cargo were transported by air between Armenia and Russia, which is 12% more than the cargo transportation for the same period in 2023,” he said at a meeting of the Russian-Armenian intergovernmental commission on economic cooperation, Russian news agency Tass reported. Grigoryan also noted the growth in the field of rail transportation. According to him, over the 10 months of ...
12/20/2024Trade turnover between Russia and Armenia doubles to $10.2 billion - Overchuk
Trade turnover between Russia and Armenia in the first 10 months of 2024 reached $10.2 billion, which is twice as much as in the whole of 2023, Russian Deputy Prime Minister Alexei Overchuk said at a meeting of the Russian-Armenian intergovernmental commission on economic cooperation in Moscow, Russian news agency Tass reported. YEREVAN, December 20. /ARKA/. Trade turnover between Russia ...
12/20/2024Zangezur Copper and Molybdenum Combine may offer Armenian government's stake in IPO - Pashinyan
... year. Thus, according to him, in 11 months of this year, the ZCMC has contributed 107 billion drams to the state budget. The Minister of Territorial Administration and Infrastructure David Khudatyan noted at a government meeting that as of December 31, 2023, the total amount of dividends exceeded 294 billion drams, of which 152 billion drams have been paid. Of that 33.25 billion drams is the government's share. He added that the government's dividends should also be transferred to the budget from the ...
12/20/2024Epidemiologist evaluates the risk of a “mild covid” epidemic in Armenia
... activities continue. We are now treating COVID-19 as a common acute respiratory viral infection,” Hovhannisyan said. She also added that only 89 cases of COVID-19 infection were detected in November this year, compared to 462 cases in the same month of 2023. “Moreover, according to data from the past two weeks, we are seeing a decline in COVID-19 infections,” the expert said, noting that a similar trend is being observed globally. The first cases of “mild COVID” were recorded in November. The ...
12/20/2024In case of signing peace treaty with Azerbaijan, the idea of withdrawal of mutual lawsuits is acceptable to Armenia - Pashinyan
... not put forward the same issues in the bilateral relations agenda and make them a source of 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 ...
12/20/2024Armenian government endorses economic agreement with Hungary
... life imprisonment in Hungary for the murder of Armenian officer Gurgen Margaryan and was later pardoned upon his return to Azerbaijan. On December 1, 2022, the foreign ministers of Armenia and Hungary agreed to restore full diplomatic relations. In May 2023, after 11 years without diplomatic ties, the two countries appointed non-resident ambassadors: Anna Maria Shiko became Hungary's ambassador to Armenia (residing in Tbilisi), and Ashot Smbatyan became Armenia's ambassador to Hungary (also serving ...
12/19/2024Eastern Horoscope for 2025: Year of the Snake – A Time for Change
... things won't be straightforward either. A colleague may envy you and start scheming behind your back. Be more cunning, and use their own tactics against them in the battle with detractors. Year of the Rabbit Birth years — 1963, 1975, 1987, 1999, 2011, 2023 The mistress of this year will often present you with surprises or unexpected events in your professional life. Many plans that the Rabbit has been nurturing for a long time may not come to fruition. However, bold and unconventional projects that ...
12/18/2024Armenia's trade turnover with EEU countries in January-October exceeded $11bn. - Ministry of Economy
... Minister Narek Hovakimyan said on Monday. YEREVAN, 16 December. /ARKA/. Armenia's trade with Eurasian Economic Union’s (EEU) member states exceeded the threshold of $11 billion in the first 10 months of 2024, against $3.4 billion for the whole of 2023, Armenian Deputy Economy Minister Narek Hovakimyan said on Monday. ‘This is quite a good result, the bulk of Armenian exports are wines, brandy, agricultural, as well as industrial and technological products,’ Hovakimyan noted during a discussion on “10 Years in the Eurasian Economic Union: results and prospects” in the Armenian parliament. Besides, according to ...
12/16/2024Armenian anti-monopoly authority reveals collusion of fuel sellers and issues fines for more than AMD 1bn
..., these companies changed prices in the same way despite the fact that their costs differed significantly from each other. The companies' indirect anticompetitive contractual behaviour was most evident in November-December 2022 and September-October 2023. At the same time, on the same day or with an interval of up to two days, retail selling prices of AI-92 petrol were increased and decreased, while their costs differed from each other,’ the Commission said. Moreover, there were cases when the ...
12/13/2024Armenian Economy Minister shares plans to develop Amulsar gold mine after EDB withdraws from the project
... containment,’ the minister said. Papoyan added that in order to better assess the risks associated with the Amulsar project, the Ministry of Economy has ordered a study from an auditing company, which is expected to arrive within a week. In February 2023, Armenia, EDB and mine owner Lydian Armenia signed a Memorandum of Understanding, according to which the parties were to attract about $150 million and another $100 million outside the framework of this document for the development of the Amulsar ...
12/12/2024Agro-sector and investments: Armenia and China discuss strengthening trade and economic ties
... Import Expo (CIIE) November 5-10, 2024, in Shanghai. According to the National Statistical Committee of Armenia, in January-October 2024, Armenia's trade turnover with China exceeded $2.33 billion, marking a 35.5% increase compared to the same period in 2023. Exports from Armenia to China rose 2.8 times, reaching $988.5 million, while Chinese imports to Armenia decreased by 2.1%, totaling nearly $1.38 billion.-0-
12/12/2024EDB excludes risk of “overheating” in Armenian economy from construction and lending (EXCLUSIVE)
... said. The head of the bank's analytics department noted that economic growth in Armenia reached 6% from January to September 2024. At the same time, the construction sector contributed 1 percentage point to this growth (approximately the same as in 2023), while total investment in fixed capital (including construction) accounted for about 2 percentage points (the same as in 2023), with the construction sector's share in GDP nearing 7%. Therefore, as Kuznetsov noted, the construction sector cannot ...
12/12/2024Ameriabank Presents EventHub.am: a Streamlined and User-Friendly Ticketing Solution
... dynamically growing fintech space, offers seamless solutions to improve the quality of life. The Eventhub platform streamlines the process of event organization by offering seamless solutions for seat selection, ticket sales, and verification. Launched in 2023, in a short period of time EventHub has partnered with over 100 organizations facilitating the creation and successful implementation of more than 500 events through its EventHub toolkit. The Bank is supervised by the Central Bank of Armenia.
12/11/2024Journalist of ARKA news agency wins 10th EDB media creative contest
... region. ARKA News Agency has traditionally been an information sponsor of the annual meeting and business forum of the Eurasian Development Bank, receiving high praise for its objectivity, expertise in business issues and the range of topics covered. In 2023, the agency was honoured with a special media nomination of the Eurasian Development Bank ‘For dedication to the topic’. ARKA news agency ( www.arka.am ) has been operating since 1 May 1996 and is one of the leading media outlets in Armenia....
12/09/2024Over 5.3K real estate transactions made in Armenia in October, most by Russians
In October 2024, 5,333 purchase and sale transactions were made in the Armenian real estate market, compared to 4,580 transactions in October 2023 and 4,643 in September 2024, according to data from the National Statistical Committee of the country. YEREVAN, December 9. /ARKA/. In October 2024, 5,333 purchase and sale transactions were made in the Armenian real estate market, compared ...
12/09/2024October sees decline in Armenia's real estate market with 22.1K transactions
In October 2024, 22,120 transactions were made in the real estate market in Armenia, compared to 19,815 transactions in October 2023 and 19,494 transactions in September of the same year, according to data from the National Statistical Committee of the Republic. YEREVAN, December 9. /ARKA/. In October 2024, 22,120 transactions were made in the real estate market in Armenia,...
12/09/2024Cargo transport in Armenia falls 10.5%, passenger transport rises 19.5%
The total volume of cargo transportation in Armenia for January-October 2024 amounted to 13,684.2 thousand tons, showing a decrease of 10.5% compared to the same period in 2023. YEREVAN, December 9. /ARKA/. The total volume of cargo transportation in Armenia for January-October 2024 amounted to 13,684.2 thousand tons, showing a decrease of 10.5% compared to the same period in 2023. Meanwhile, the total volume of ...
12/09/2024Armenia's service sector grows 5.8% to 2.7 trillion drams
The volume of the service sector in Armenia in January-October 2023 amounted to 2,734,696.9 million drams (at current prices), increasing by 5.8% compared to the same period in 2022, according to the National Statistical Committee of the Republic. YEREVAN, December 9. /ARKA/. The volume of the service sector ...
12/09/2024Armenia's domestic trade turnover nears 5 trillion drams, up 18.8%
Armenia's domestic trade turnover in January-October this year totaled 4,990,023.3 million drams (at current prices), marking an 18.8% increase compared to the same period in 2023, according to the National Statistical Committee of the Republic. YEREVAN, December 9. /ARKA/. Armenia's domestic trade turnover in January-October this year totaled 4,990,023.3 million drams (at current prices), marking an 18.8% increase compared ...
12/09/2024Construction volume in Armenia up 15.5% to 484.5 billion drams in 10 months
The volume of construction work in Armenia from January to October 2024 totaled 484,545.9 million drams (at current prices), marking a 15.5% increase compared to the same period in 2023, according to the National Statistical Committee of the Republic. YEREVAN, December 9. /ARKA/. The volume of construction work in Armenia from January to October 2024 totaled 484,545.9 million drams (at current prices), marking a 15.5% increase ...
12/09/2024Electricity generation in Armenia up 4.6% to 7.6 billion kWh in January-October
In January-October 2024, Armenia generated 7,619.3 million kWh of electricity, a 4.6% increase compared to the same period in 2023, according to data published by the National Statistical Committee of Armenia. YEREVAN, December 9. /ARKA/. In January-October 2024, Armenia generated 7,619.3 million kWh of electricity, a 4.6% increase compared to the same period in 2023, according ...
12/09/2024Copper concentrate production in Armenia up 8.9% in 10 months
... increased by 32.5% to 8,644 tons, while molybdenum concentrate production decreased by 28.5% to 14,598.1 tons. During the reporting period, 3,591.7 tons of ferromolybdenum were produced, marking a 43.3% decrease compared to the figure for the ten months of 2023.
12/09/2024Armenian industrial output in 10 months increases by 11.7%, up to AMD 2.4 trillion
Armenia's industrial output in January-October 2024 totalled about 2.4 trillion drams, (in current prices), increasing by 11.7% compared to the same period of 2023, data released by the National Statistical Committee shows. YEREVAN, 6 December. /ARKA/. Armenia's industrial output in January-October 2024 totalled about 2.4 trillion drams, (in current prices), increasing by 11.7% compared to the same period ...
12/06/2024Armenia's foreign trade for 10 months totalled $26.2bn, growth continues to slow down
... with Iraq -$189.4m, 26.2% growth. Armenian exports rose 95.1% to $11.5bn, with exports to Russia totalling over $2.6bn, down 13.6%. The volume of exports to the EU countries in January-October this year decreased by 22.3% compared to January-October 2023, making $500.4 million. The volume of exports to the Netherlands - $99.6 million, a decrease of 56.7%, to Belgium - $99.3 million, an increase of 17.9%. Exports to the UAE amounted to $4.8bn, a 5.9-fold increase, to China - $988.5m, a 2.8-fold increase, to Iraq - $189m, a 26.6% increase, ...
12/06/2024EDB investments in 2024 total $2.3B, with $436M in Armenia, Kyrgyzstan, and Tajikistan
... press conference summarizing the year's results. "The total investment volume for the year reached $2.3 billion. The current investment portfolio in Armenia, Kyrgyzstan, and Tajikistan amounted to $436 million, an increase of 1.5 times compared to 2023. Net profit for the first 11 months of 2024 stood at $135 million," Podguzov said. According to him, for 18 years, the EDB has been investing in improving the quality of life for 200 million people living in Eurasia. "298 successful national ...
12/06/2024Armenia records slower growth in real estate prices in September – Finance Ministry
... August and 8.4% compared to September last year)," the report notes. According to the National Statistical Committee, 19,494 transactions were made in the real estate market in Armenia in September 2024, compared to 17,253 transactions in September 2023 and 20,178 transactions in August of the same year. In the overall structure, transactions involving the alienation of real estate prevail – 7,152 (36.7% of the total), including 4,643 purchase and sale transactions, 2,184 donation transactions,...
12/06/2024In Armenia, 21,228 deaths recorded in January-October; 5.3% increase
In Armenia, 21,228 people died between January and October 2024, which is 5.3% more than the number recorded during the same period in 2023. YEREVAN, December 6. /ARKA/. In Armenia, 21,228 people died between January and October 2024, which is 5.3% more than the number recorded during the same period in 2023. This is according to data published by the National Statistical Committee ...
12/06/2024Armenia's birth rate drops 7.1% in 10 months
In Armenia, the birth rate decreased by 7.1% in January-October 2024 compared to the same period in 2023, according to data published by the National Statistical Committee of Armenia. YEREVAN, December 6. /ARKA/. In Armenia, the birth rate decreased by 7.1% in January-October 2024 compared to the same period in 2023, according to data published ...
12/06/2024Pashinyan fires heads of Enforcement and Probation services
... Enforcement Officer, and Aram Nikoyan, head of the Probation Service. The corresponding decisions were signed by the head of the government on Thursday. Mnatsakanyan was appointed Chief Enforcement Officer by Prime Minister's decision of 26 January 2023, while Nikoyan was appointed head of the Probation Service on 18 September 2023. Pashinyan also appointed Nelli Davtyan as new head of the Migration and Citizenship Service of the Interior Ministry. She has replaced Armen Ghazaryan, who was appointed ...
12/06/2024Armenia's unemployment drops 9.3%, hired workers rise 5.6% in September - Ministry of Finance
... January-September 2024,” the three highest-paid sectors in Armenia in September 2024 were information and communication (835,840 drams), financial and insurance activities (809,417 drams), and mining and quarrying (478,763 drams). Compared to September 2023, an increase in average wages was recorded in all sectors of employment, except for the information and communication, construction, and electricity, gas, steam, and air conditioning supply sectors. The highest growth was recorded in the following ...
12/05/2024Petrol in Armenia in November fell in price by 6%, while diesel fuel - by 9.9%
In November 2024 petrol in Armenia compared to November 2023 was 6% cheaper and diesel fuel – 9.9% cheaper, as evidenced by the National Statistical Committee. YEREVAN, 4 December. /ARKA/. In November 2024 petrol in Armenia compared to November 2023 was 6% cheaper and diesel fuel – 9.9% cheaper, ...
12/04/2024Food products in Armenia rose by 1.7 per cent year-on-year in November
Prices of food products and non-alcoholic beverages rose by 1.7% in November 2024 against November 2023, the National Statistical Committee's report shows. YEREVAN, 4 December. /ARKA/. Prices of food products and non-alcoholic beverages rose by 1.7% in November 2024 against November 2023, the National Statistical Committee's report shows. Bread ...
12/04/2024Inflation in Armenia registered at 1.4% in November, 1.3% for the month
In November 2024, inflation in Armenia was 1.4% compared to November 2023, and 1.3% for the month. YEREVAN, December 4. /ARKA/. In November 2024, inflation in Armenia was 1.4% compared to November 2023, and 1.3% compared to October 2024, according to the latest numbers, released by the National Statistical Committee ...
12/04/2024Net inflow of non-commercial money transfers to Armenia from abroad down 1.4 times in 10 months of 2024
The net inflow of private cross-border remittances to Armenia from abroad through the banking system in January-October 2024 dropped to $1.03 billion from $1.45 billion in the first ten months of 2023, the report of the Central Bank shows. YEREVAN, 2 December. /ARKA/. The net inflow of private cross-border remittances to Armenia from abroad through the banking system in January-October 2024 dropped to $1.03 billion from $1.45 billion in the ...
12/02/2024Armenia's poverty rate reached 23.7% by end of 2023
The poverty rate in Armenia, calculated on the average line, stood at 23.7% at the end of 2023, a decrease of 1.1 percentage points compared to the previous year, according to a report by the National Statistical Committee of Armenia. YEREVAN, December 2. /ARKA/. The average poverty rate in Armenia stood at 23.7% at the end of 2023, a ...
12/02/2024Hayastan Fund's annual telethon raises $13.6 million in donations
... Last year’s telethon raised $8.4 million, Director of the Fund Haykak Arshamyan said today. The 27th telethon under the slogan ‘For You, Armenia’ was held on 28 November. The raised funds will be used to finance a set of strategic projects in 2023-2025 such as reconstruction and construction of drinking and irrigation water systems in border communities, construction of community health centres, placement of solar stations in schools, kindergartens and community centres in border communities,...
11/29/2024Artsakh citizenship issue tied to return prospect – Ombudsman
... create a clear framework that will instil real confidence in the displaced residents of Artsakh that obtaining citizenship will not deprive them of the right to return,’ Stepanyan said. On Azerbaijan's ethnic cleansing in Artsakh On 19-20 September 2023, Azerbaijan launched a large-scale aggression against Artsakh, using artillery, UAVs and combat aviation. On 28 September, after negotiations with the Azerbaijani side, Artsakh President Samvel Shahramanyan issued a decree on dissolution of all state ...
11/29/2024Battle for growth or decline: Armenian Ministry of Economy accuses National Statistical Committee
... the heads of 10 centers, who stated that there was no calculation methodology. According to him, the fact that agricultural exports have increased overall is evidence that National Statistical Committee data is incorrect. At the same time, Papoyan did ... ... Committee, for a comment. According to him, Minister Papoyan ьуфте the data for October 2024 in comparison with October 2023. In this case, Avakyan noted, an 8% decline was indeed recorded. When asked why this data is not publicly available, he explained ...
11/29/2024Ameriabank Named Armenia’s Best Bank for Real Estate by Euromoney
... service, but also a commitment to improving the sector through technological advances and sustainability initiatives. According to Euromoney, Ameriabank achieved notable growth in its real estate business in Armenia during the review period from June 2023 to June 2024. The bank’s gross mortgage loan portfolio grew by 25.3% to AMD 233.2 billion (US$600 million), capturing a 21.3% share of the Armenian mortgage market as of June 2024. The publication highlights that this success is closely tied to ...
11/29/2024Russia waits for response: Zakharova on delay in opening of Russian consulate in southern Armenia
... Russian Consulate General in Kapan. We have requested an exequatur for the consul general. Accordingly, we are waiting for an answer,’ Zakharova said, when asked about the reasons for the delay in opening the consulate in southern Armenia. In October 2023, Armenia agreed to opening a Russian consulate in Kapan (the administrative centre of Syunik province bordering Iran and Azerbaijan). Subsequently, in November, the Prime Minister of the Russian Federation signed an order exchanging notes with the ...
11/27/2024Head of Armenian Migration Service appointed Deputy Minister of Internal Affairs
... has been appointed as new Deputy Minister of Internal Affairs. The corresponding decree was signed by Prime Minister Nikol Pashinyan. Previous Internal Affairs Minister Vahe Ghazaryan resigned on November 18 (he was appointed to this post in January 2023). Vahe Ghazaryabn was replaced by his deputy Arpine Sargsyan.-0-
11/27/2024IMF forecasts inflation in Armenia at 0.2 percent in 2024 and 3.1 percent in 2025
... range set by the Central Bank," said IMF Resident Representative in Armenia Umang Rawat, presenting the report "Caucasus and Central Asia: Economic Outlook and Political Challenges." He noted that the pressure, which in 2022 and early 2023 was caused by a number of factors, including the influx of labor from Russia and India, as well as the integration of refugees from Nagorno-Karabakh into the labor market, is gradually decreasing. According to Rawat, after a significant increase ...
11/26/2024IMF: Armenia's economy to grow by up to 5.5% by 2028
... structural reforms and opportunities for labor force integration are realized, said Umang Rawat, IMF Resident Representative in Armenia, while presenting the report Caucasus and Central Asia: Economic Outlook and Policy Challenges. He noted that in 2022-2023, the trade sector, the influx of labor, and developments in the financial sector contributed to the expansion of Armenia's economy and its high growth. "However, the drivers of growth have changed. In 2022, the main driver was net exports, but the growth structure has shifted towards consumption and investment. In 2024, we observe a gradual shift towards more stable growth," he said. In this regard, Rawat noted that these trends are not negative phenomena. "Over the past ...
11/26/2024Grocery store in Artik faces accusations of $670 thousand shadow turnover
... investigation, it was found that the shadow turnover at this store reached 260.24 million drams. In response to warnings and requests from tax authorities, the taxpayer submitted documents with recalculations of VAT, excise tax for October and December 2023, as well as for 2024, and income tax for 2024. As a result, a debt to the state was formed, amounting to nearly 43.4 million drams in VAT and over 21.5 million drams in income tax. The company has fully repaid this debt. ($1 = 390.14 drams).
11/26/2024Armenia's foreign trade turnover in January-October soars by 67.6% to over $26.2bn.
... compared to September of 2024 it was up 9.7%. In AMD equivalent, the foreign trade turnover in January-October 2024 totaled over 10.3 trillion. Exports from Armenia compared to the same period in 2023 grew by 95.1% to over $11.5 billion. In October, exports grew by 23.1% from October 2023 and by 7.5% from September 2024. In AMD terms, exports totaled over 4.5 trillion. Imports for the reporting period totaled over $14.6 billion, registering a 50.8% increase over the same period in 2023. In October, this indicator grew by 6.6% year-on-year ...
11/25/2024Electricity generation in Armenia increases by 2.8% in 10 months
According to operational statistics, the volume of electricity production from January to October 2024 increased by 2.8% compared to the same period in 2023, reports the National Statistical Committee of the country. YEREVAN, November 25. /ARKA/. According to operational statistics, the volume of electricity production from January to October 2024 increased by 2.8% compared to the same period ...
11/25/2024Consumer prices in Armenia show zero growth in 10 months, same as last month
... this year, a 0.6% growth was recorded compared to October of last year, and a 0.3% growth compared to September of the same year. According to the NSC, prices for industrial goods in January-October 2024 increased by 3.1% compared to the same period in 2023. In October of this year, prices for industrial goods increased by 4.9% year-on-year and by 1.8% month-on-month. Inflation Figures and Forecasts The Armenian state budget for 2024 projects inflation at 4% (±1.5%). According to the Central Bank's ...
11/25/2024Economic activity in Armenia increased by 8.1% in 10 months
According to preliminary data, Armenia's economic activity in January-October 2024 increased by 8.1% compared to the same period in 2023, reports the National Statistical Committee of the country. YEREVAN, November 25. /ARKA/. According to preliminary data, Armenia's economic activity in January-October 2024 increased by 8.1% compared to the same period in 2023, reports the ...
11/25/2024‘’Wings of Tatev’’ cable car in Armenia wins prestigious World Travel Awards for the third time
... recognized as the best in the world, for the third time, surpassing competitors from Bolivia, Brazil, Vietnam, Canada, New Zealand, the United States, and South Africa. Previously, the ‘’Wings of Tatev’’ secured Armenia's victory in this category in 2023 and 2021. "Winning such a prestigious award for the third consecutive year is evidence that Armenia has a unique, world-class tourism infrastructure. It contributes to the development of the region and its tourism potential, while also introducing ...
11/25/2024Russian investments in Armenia total around $4 billion – Kopyrkin
... partner. According to the National Statistical Committee, the foreign trade turnover between the Republic of Armenia and the Russian Federation for the first nine months of 2024 exceeded $9.7 billion, marking a 99.2% increase compared to January-September 2023. Exports during this period totaled $2.3 billion, a decrease of 15.5%, while imports reached $7.6 billion, representing a 3.3-fold increase. -0-
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