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EBRD forecasts slower and moderate economic growth for Armenia in the medium term
... to ease to 6.2 per cent in 2024 and 4.8 per cent in 2025 which is close to Armenia’s long-term potential growth rate,’’ she said in an interview with the ARKA news agency. According to Falcetti, temporary capital inflows related to the war on Ukraine have dissipated, but increased government spending to meet the needs of refugees and to strengthen national defenses will compensate to some extent. ‘’However, geopolitical uncertainty poses sizeable risks to the economic outlook with a potential ...
11/27/2024EBRD has invested record 2.4 billion euros in Armenia - EBRD Managing Director for Turkey and Caucasus (EXCLUSIVE)
... that GDP growth to be moderate in the short run. Indeed, we forecast real GDP growth to ease to 6.2 per cent in 2024 and 4.8 per cent in 2025 which is close to Armenia’s long-term potential growth rate. Temporary capital inflows related to the war on Ukraine have dissipated, but increased government spending to meet the needs of refugees and to strengthen national defences will compensate to some extent. However, geopolitical uncertainty poses sizeable risks to the economic outlook with a potential ...
11/26/2024Greece may hand over Russian air defense systems to Armenia – Enikos
... According to the portal, "The General Staff of Greece's National Defense is at an advanced stage of providing Armenia with Russian-made weapons systems." The portal notes that "it was previously assumed these systems could be transferred to Ukraine, but the General Staff is now considering other, equally advantageous alternatives. According to available information, strengthening Armenia's defense is not solely a Greek initiative but a result of cooperation with France, which will also contribute ...
11/26/2024Trump may nominate Marco Rubio, who voiced support for Armenia, as U.S. Secretary of State
... military-technical assistance to Azerbaijan. Rubio stated that American taxpayers' money should not go to Azerbaijan, a country that has brought instability to the region. In April 2024, Rubio voted against providing $95bn in aid to Kiev and ‘urged Ukraine to negotiate an end to the war with Russia, even if it means Russia retains some Ukrainian territory.’ At the same time, the senator is against normalising relations with Cuba and is known for his tough stance on China, Axios writes. CNN, which,...
11/12/2024Armenia's banking sector may reach net profit of $1bn in 2025 - UBA
... has increased the banks‘ interest income,’ he said. Among other factors, the deputy chairman pointed to the 7.8 per cent growth of the economy (in 2019), as well as the positive impact of Russians who arrived in Armenia after Russian invasion of Ukraine on the country's economy. According to the UBA, the banking sector’s net income in the first nine months of 2024 was $682 million, compared to $171 million in 2021, $581 million in 2022 and $586 million in 2023. -0-
11/08/2024Number of tourists visiting Armenia over 9 months decreased by 6.2% to 1.7 million
... (199,145 people, or 11.6%, an increase of 7.1%), and Iran (136,496 people, or 7.9%, an increase of 17.8%). Armenia was also visited by citizens from the United States (48,257 people), India (33,233), China (24,444), Germany (22,519), France (24,243), Ukraine (21,427), the Philippines (16,695), Belarus (12,681), Italy (12,350), the Republic of Korea (11,790), the Netherlands (11,749), Poland (8,893), Turkey (8,585), Belgium (7,934), Kazakhstan (7,700), Spain (6,552), the UAE (5,545), Bulgaria (5,433),...
11/06/2024Armenia's security strategy is based on legitimacy- Pashinyan
... in Russian Kazan is dedicated to the problems of the ‘Global South’. According to him, this concerns Armenia as well and, in particular, the Crossroads of Peace project, which he intends to present at the summit. ‘As a result of the events in Ukraine, logistical hubs, through which tens and hundreds of billions worth of goods flowed, have been closed. These goods worth tens, hundreds of billions and even trillions USD mean new jobs, income, prosperity or lack thereof. I think we will do a ...
10/23/2024World Bank left its forecast for Armenia's economic growth in 2024 unchanged, slightly improving expectations for 2025 and 2026.
....3 percent in 2023, partly due to the normalization of migration, tourist inflows, and remittances from the Russian Federation,” the study says. World Bank analysts expect that in most economies in Central Europe, the Western Balkans, Armenia, and Ukraine, government debt is projected to exceed 50 percent of GDP this year. Figures and forecasts for the Armenian economy The state budget for 2024 envisages economic growth in Armenia at 7%. The Central Bank of Armenia expects the country's economic ...
10/18/2024EU believes it is necessary to ‘open opportunities’ for Eastern European countries, including Armenia - Bundestag MP
... Affairs Committee, said at a press conference in Yerevan today that he understands that Armenia has specific expectations from the EU. He added that he believes that the time has come to move from words to deeds. He also added that due to the events in Ukraine the approach that it is necessary to ‘open opportunities’ for the countries of Eastern Europe, including Armenia, prevails in the European Union. At the same time, Roth noted that Europe faces ‘different kinds of Russian propaganda and disinformation,...
09/19/2024Mirzoyan congratulates Ukraine's new Foreign Minister Andrii Sybiha
Armenian Foreign Minister Ararat Mirzoyan congratulated Andrii Sybiha on his appointment as Ukraine’s new Foreign Minister YEREVAN, September 6. /ARKA/. Armenian Foreign Minister Ararat Mirzoyan congratulated Andrii Sybiha on his appointment as Ukraine’s new Foreign Minister. In a post on X, Mirzoyan expressed his optimism about future ...
09/06/2024Global recession or just an adjustment: what awaits Armenia amid the "storm" in the world stock markets
... shared their opinions on the development of the situation and its possible impact on Armenia with ARKA news agency. Is the crisis coming? "We have been forecasting a recession of the global economy for the third year already. The war not only in Ukraine, but also in the Middle East, tensions in the South Caucasus - all this cannot be accompanied by the growth of either regional or global economy. Therefore, we have forecasted this trend, and it is quite natural," Manaseryan said. He noted ...
08/07/2024Armenia sees 6.1% decline in foreign tourists in H1 2024
... Visitors from Georgia numbered 126,927 (13.4% of the total), showing a 10.2% increase, and tourists from Iran totaled 69,252 (7.3% of the total), an 18.3% increase. Additionally, tourists from India (24,949), the USA (17,042), the Philippines (13,183), Ukraine (12,663), China (11,473), Germany (11,082), France (11,032), Belarus (7,796), South Korea (7,336), Italy (6,755), Turkey (5,539), the UK (4,991), the Netherlands (4,948), Kazakhstan (4,703), Poland (4,231), Bulgaria (3,549), the UAE (3,341), Belgium ...
08/07/2024Fitch ratings revises Armenia's economic growth projections
... and 5.1% in 2026. This is a revision from its January 2024 forecast, which expected a 6% growth in 2024 followed by a decrease to 4.9% in 2025. The updated forecast highlights the continued benefits of internal migration flows from Russia, Belarus, Ukraine, and Nagorno-Karabakh, which have positively impacted Armenia's economy. Real GDP grew by 8.7% in 2023 and maintained a 9.2% year-on-year growth rate in the first quarter of 2024. Significant drivers of growth are expected to be the tourism and ...
07/29/2024European Council chief sees possibility of direct bilateral contacts between Yerevan and Baku
... Tv reports. The 4th meeting of the European Political Community (EPC) is taking place in UK with some 47 heads of state and government attending the event. Armenian and Azerbaijani leaders are among them The leaders are discussing further support for Ukraine as well as common challenges. The roundtable sessions cover topics such as migration, energy, communications, defence and the protection of democracy. The aim of the European Political Community is to promote political dialogue and co-operation ...
07/18/2024World Bank publishes country classifications by income level for 2024-2025
... in trade (+6.8%), the financial sector (+8.7%), and construction (+6.6%). These factors led to increases in both real (3.6%) and nominal (10.9%) GDP, and Russia’s Atlas GNI per capita grew by 11.2%,” the report said. Algeria, Iran, Mongolia, and Ukraine all moved up from the lower-middle-income to the upper-middle-income category this year. Iran’s economy grew 5.0% in 2023, driven mainly by oil exports and supported by gains in services and manufacturing. GNI jumped 39.5% in nominal terms which,...
07/02/2024Foreign Minister: Armenia calls for immediate ceasefire in Ukraine
Mirzoyan stressed that Armenia is committed to peace, stability, and territorial integrity of all countries YEREVAN, June 27. /ARKA/. Armenia is strongly against the war in Ukraine and calls for an immediate ceasefire, the country’s Foreign Minister Ararat Mirzoyan said at a joint press conference with his Estonian counterpart Margus Tsahkna in Tallinn. Mirzoyan added that Armenia is deeply concerned about the destruction ...
06/27/2024Russian Foreign Ministry: Moscow does not retreat from defense cooperation with Yerevan
... paid for from Russia. As Konstantin Zatulin, first deputy head of the Russian State Duma Committee on CIS Affairs, noted, Russia delayed arms supplies to Armenia due to the “special operation”, the name Russia’s officials use for the invasion of Ukraine.
06/19/2024Armenia and Ukraine discuss prospects of trade and economic relations
Armenian Minister of Economy Gevorg Papoyan received on Tuesday Ukrainian Charge d'Affaires in Armenia Valeriy Lobach. YEREVAN, 18 June. /ARKA/. Armenian Minister of Economy Gevorg Papoyan received on Tuesday Ukrainian Charge d'Affaires in Armenia Valeriy Lobach. During the meeting, the sides discussed a number of issues related to the development of trade and economic relations between the two countries and increase of trade turnover, the press service of the Economy Ministry reported. "We...
06/18/2024Armen Grigoryan to take part in the Peace Summit on Ukraine in Switzerland
Armenian Security Council Secretary Armen Grigoryan will travel to to Nidwalden in Switzerland on 15 June, where he will take part in the Formula Peace Summit on Ukraine, the Security Council said in a facebook post. YEREVAN, 14 June. /ARKA/. Armenian Security Council Secretary Armen Grigoryan will travel to to Nidwalden in Switzerland on 15 June, where he will take part in the Formula Peace Summit on Ukraine,...
06/14/2024Armenia to participate in conference on Ukraine's reconstruction
Armenian Deputy Foreign Minister will take part in a conference on Ukraine's reconstruction in Berlin, Radio Azatutyun (RFE/RL) reported citing the Armenian Foreign Ministry without mentioning deputy minister’s name. YEREVAN, 11 June. /ARKA/. Armenian Deputy Foreign Minister will take part in a conference on ...
06/11/2024Tourist visits in Armenia amounted to unprecedented 40% growth in 2023 - Tourism Committee
... performance in 2023. Hakobyan informed that the growth of tourist visits amounted to 40% compared to January-December 2022 and about 22% compared to 2019. “Last year, most of the tourists came from Russia, Georgia, Iran, the United States, Germany, France, Ukraine, China, Belarus, as well as the United Arab Emirates,” Hakobyan said. Prime Minister Nikol Pashinyan noted that this year, according to statistical data, certain changes in the structure of tourism have been recorded. For example, the number ...
06/06/2024Central Bank Chairman: Armenia’s economy becomes more independent of money transfers from abroad
... make in Russia and in Armenia, so the opportunity to work in Russia is now much less attractive for our citizens than it used to be,” he said. Finally, one more important factor is a large boost in money transfers following Russia’s invasion of Ukraine, although it is hard to classify those statistically, Galstyan noted. The record figures of 2022 are history, he said, as now most of the figures are close to their natural levels, the Central Bank Chairman said. Individuals in Armenia received ...
06/03/2024EBRD and EU boost funding for Armenian firms via Inecobank
... efficiency. The new loan to Inecobank adds to the bank’s strong track record of disbursing US$ 14 million under the credit line since its inception in Armenia in 2021. The EU4Business-EBRD Credit Line, available also in Georgia , Moldova and Ukraine , is a joint financing instrument of the EBRD and the EU and designed to boost the competitiveness and export ambition of local firms. The fifth-largest bank in Armenia, Inecobank is a longstanding EBRD partner with a strong portfolio of private-sector ...
05/16/2024EBRD plans to invest up to 500 million Euros in Armenia in 2024
... private sector. Odile Renaud-Basso pointed out five components reflecting the country's internal potential: - information technology - financial system stability - business environment - green ambitions - regional connectivity She said that the events in Ukraine have increased the need for stable connectivity between Europe and Asia, making the South Caucasus region and Armenia in particular an attractive area for international trade and investment. The EBRD is one of the largest institutional financiers ...
05/15/2024The number of tourists visiting Armenia in the first quarter fell by 3.2% to 435,775 people
... of last year), Georgia (61,830 people or 14.2%, an increase of 15.5%) and Iran (33,729 people or 7.7%, an increase of 32.6%). Besides, in January-March of this year Armenia was also visited by citizens from India (13,216 people), Philippines (9,417), Ukraine (5,542), USA (4,942), Germany (3,649), France (3,501), Belarus (3,124), China (2,757), Italy (2,594), Turkey (2,382), Netherlands (1,796), UAE (1,785), UK (1,561), Egypt (1,381), Belgium (1,106), Moldova (1,078), Spain (1,061), Greece (1,055) ...
05/08/2024Transfers to Visa cards of foreign banks are available in the Unibank mobile app
... sent to 60 countries, including the EU countries, Great Britain, Australia, Argentina, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Egypt, India, Israel Jordan, Canada, Korea, China, Maldives, Mexico, Moldova, United Arab Emirates, Paraguay, Singapore, Ukraine, Japan, etc. See the list of the countries on www.unibank.am . Card-to-card transfers can be made around the clock and seven days a week, which is convenient for both the sender and the recipient. The UNIMobile app can be downloaded from the ...
05/02/2024Armenia may receive €10 mln. assistance from European Peace Facility – Azatutyun Radio
... provide funds for the purchase of non-lethal weapons or capabilities to promote peace, prevent conflict, and strengthen international security around the world. Among the countries that have received assistance from the EPF in previous years are Georgia, Ukraine, and Moldova, all of which are seeking membership in the European Union. Application for EU membership is not a mandatory condition for receiving EPF funding. In addition to the three post-Soviet countries, a number of African countries, including ...
04/18/2024Armenia surpasses almost all countries of the region in positive peace index
... Armenia improved its position by 16 points and is among the countries with a high positive peace index. Out of former Soviet republics, only Estonia (22nd), Lithuania (24th), Latvia (31st) and Georgia (49th) are ahead of Armenia. Moldova is ranked 60th, Ukraine 66th, Kazakhstan 71st, Belarus 83rd, Turkey 91st, Russia 93rd, Uzbekistan 98th, Kyrgyzstan 101st, Azerbaijan 104th, Iran 124th, Tajikistan 131st and Turkmenistan 132nd. Finland, Denmark, Norway, Sweden and Switzerland are in the top five countries ...
04/17/2024More than 800 people sought asylum in Armenia in 2023- Interior Ministry
... preserved. Nevertheless, there is a certain decrease. Until 2022, the bulk of asylum seekers were citizens of Middle Eastern countries - Syria, Iraq and Egypt," Ghazaryan said. According to him, in 2022-2023, the main mass was made up of citizens of Ukraine, followed y by citizens of Syria and Iraq. As for the citizens of India, Ghazaryan noted that there was not a single request for asylum from them last year. In previous years, there were only a few such cases. --0--
04/02/2024Armenia named the happiest country in the region
... (91st), Turkey (98th), Iran (100th) and Azerbaijan (101st). Of former Soviet republics Lithuania ranked 19th, Estonia - 34th, Latvia - 46th, Uzbekistan - 47th, Kazakhstan - 49th, Moldova - 71st, Russia - 72nd, Kyrgyzstan - 75th, Tajikistan - 88 th and Ukraine - 105th. Finland has been crowned the world’s happiest country for a seventh successive year. Overall, European countries dominated the rankings; in particular, the Nordic countries Finland, Denmark, Iceland, Sweden, and Norway all retained ...
03/20/2024Armenia's foreign trade ups 79% in January 2024 yoy to about $2.2 billion-NSC
... million, exports of finished foods dropped by 22% to $49.7 million. Imports Imports to Armenia in January 2024 amounted to over $1.2 billion, an increase of 61.4% compared to January 2023. Imports from Russia tripled to $623.6 million, imports from Ukraine halved to $4 million. imports from the EU countries decreased by 23.4%, amounting to $125.5 million. Imports from Germany were down 36.5% to $30.6 million, imports from Italy grew by 15% to $23.5 million and imports from the Netherlands fell by ...
03/06/2024Major diamond industry companies warn G7 about consequences of sanctions against Russia
... global supplier of uncut diamonds by volume. The international community has imposed new sanctions targeting Russian diamond transactions as part of a wider strategy aimed at reducing Moscow’s income streams, which support its military actions in Ukraine. In December, the G7 nations of Canada, France, Germany, Italy, Japan, the U.K. and the U.S. declared an outright ban on Russian diamonds, effective from Jan. 1. That is to be followed by gradual implementation of restrictions on indirectly imported ...
03/04/2024Simonyan believes there could have been collusion between Russia and Azerbaijan over Nagorno-Karabakh
... "Our ally (Russia), which was supposed to protect us, at best did not protect us or was in a joint process (with Azerbaijan to help it recapture Nagorno-Karabakh). And I am sure that the joint process lasted for long. I am sure that the war in Ukraine started with the war in Nagorno-Karabakh: it was necessary (for Russia) to get an alternative route to bypass possible sanctions, which is being done now: Azerbaijan now sells Russian gas to Europe through its own pipelines," he told reporters ...
02/29/2024Armenian regulator calls decision to suspend Jermuk sales in Russia ‘strange’
... 2001 with a gradual increase in volumes from 350 thousand liters to more than 15.2 million liters per year. Each batch met the requirements of the technical regulations of the Eurasian Economic Union. In addition to Russia, it is exported to the USA, Ukraine, Georgia, Belarus, Kazakhstan, EU countries and many other states. "For 23 years, not a single case of poisoning from mineral water exported from Armenia has been registered, so the decision to stop sales of certain batches of ‘Jermuk’ ...
02/14/2024Pashinyan to The Daily Telegraph: we are diversifying security relations, not abandoning cooperation with Russia
Armenia Prime Minister Nikol Pashinyan, in interview with the British newspaper The Daily Telegraph, reiterated that Armenia does not consider itself a Russian ally in the Ukraine conflict. YEREVAN, February 12. /ARKA/. Armenia Prime Minister Nikol Pashinyan, in interview with the British newspaper The Daily Telegraph, reiterated that Armenia does not consider itself a Russian ally in the Ukraine conflict. Asked whether ...
02/12/2024The number of foreign tourists visiting Armenia in 2023 up 39.1% to over 2.3 million
...,853 people or 49.2% of the total, up 44.2% from 2022), Georgia (253,759 people or 11%, up 45%) and Iran (150,766 people or 6.5%, up 29.5%). Besides, there were tourists from the USA (58,611 people), India (34,687), Germany (27,778), France (27,680), Ukraine (26,521), China (19,884), Philippines (19,477), Belarus (17,505), Italy (14,072), the Netherlands (13,192), Turkey (12,359) and Great Britain (12,227). In the reporting period, 13 citizens of Azerbaijan visited Armenia. There were also tourists ...
02/05/2024Top 5 events in Armenia's financial market in 2023
... Fitch upgraded Armenia's long-term foreign currency issuer default rating to 'BB-' from 'B+' with a stable outlook. Fitch also expects a moderate devaluation of the AMD in 2023-2024, but to a "stronger level than was the case before the conflict in Ukraine". 5) In March 2023, deep-tech startup of Armenian origin called Denovo Sciences raised another round of funding. The company researches and develops new therapeutic drugs using state-of-the-art artificial intelligence technology. The company's ...
12/20/2023Mirzoyan says Armenia ready to get closer to EU
... Ararat Mirzoyan said speaking at the Eastern Partnership ministerial meeting in Brussels. Mirzoyan noted that the Armenian government welcomes the European Commission’s decision to recommend the European Council to open accession talks with Moldova and Ukraine and to grant candidate status to Georgia. 'This decision is welcomed not only by the Government of Armenia but also people of Armenia, who also have European aspirations," he said. -0-
12/12/2023Zakharova: Russia welcomes Armenia's intention to resolve the issue of failed weapons supplies through partnership
... Ministry has a similar approach to this issue," Zakharova said. According to Konstantin Zatulin, first deputy head of the Russian State Duma Committee on CIS Affairs, Russia delayed arms deliveries to Armenia because of the special operation in Ukraine. -0-
12/06/2023Armenia's foreign trade grows by 41.2% to $15.4 billion in 10 months of 2023
... the first ten months of 2023 amounted to about $9.7 billion, registering an increase of 42.9% compared to January-October 2022. Imports from Russia upped by 17% to about $2.7 billion, imports from Belarus fell by 17% to $83 million and imports from Ukraine upped by 6% to $69.5 million. Imports from the EU countries increased by 41.1% to about $1.9 billion. Imports from Germany surged by 43% to $481 million. Imports from Italy upped by 43% to $270 million and imports from the Netherlands grew by ...
12/06/2023Chief of government staff says closure of Upper Lars checkpoint will not affect Armenia if all Armenians buy exclusively Armenian products
... trade partner. The trade between the two countries in the first 9 months of 2023 surged by 48% year-on-year to about $4.8 billion. Armenian exports to Russia soared by 85% to about $2.7 billion. Armenian exports began to surge after Russian invasion of Ukraine followed by Western sanctions slapped on Russia. Armenian entrepreneurs have taken advantage of this situation re-exporting various goods manufactured in Western countries to Russia. -0-
11/28/2023Mass media outlets claim Russia trying to punish Armenia by banning its agricultural exports
... trade partner. The trade between the two countries in the first 9 months of 2023 surged by 48% year-on-year to about $4.8 billion. Armenian exports to Russia soared by 85% to about $2.7 billion. Armenian exports began to surge after Russian invasion of Ukraine followed by Western sanctions slapped on Russia. Armenian entrepreneurs have taken advantage of this situation re-exporting various goods manufactured in Western countries to Russia. -0-
11/28/2023Overwhelming majority of Armenian labor migrants in 2022 headed for Russia
... to other countries and most of them (88.2%) traveled to Russia. Some 31.5% of household members who left in 2020-2022 and had not yet returned by 2022 were involved in migration within Armenia, 2.4% were in Nagorno-Karabakh, 59.7% in Russia, 0.5% in Ukraine, 0.9% in other CIS countries, 2.2% in European countries, 1.5% in USA/Canada, and 1.3% in other countries. As of 2022, the overwhelming majority (66.3%) left to earn money, 7.7% to study, 4.1% to visit relatives or friends, 3.7% for family reasons,...
11/27/2023EBRD and European Union provide Ardshinbank with $20 million credit for development of MSMEs
... EU4Business-EBRD Credit Line, for which the EBRD provides finance to MSMEs through partner financial institutions, while the EU complements the offer with incentive grants and technical assistance. This programme is also available in Georgia, Moldova and Ukraine. The activities of Ardshinbank are regulated by the Central Bank of the Republic of Armenia. -0-
11/24/2023Trade among Eurasian Economic Union member countries up 9% in 8 months of 2023
... to official figures, Armenia's largest foreign trade partners among former Soviet republics in the first eight months of 2023 were Russia (over $4.1 billion, up 56.3% compared to the first eight months of 2022), Belarus ($136.6 million, up 27.1%) and Ukraine ($61.5 million, up 18.1%). -0-
11/16/2023Armenian economy minister, Japanese Rotobo execs discuss possible cooperation
... with Russia and the Newly Independent States (ROTOBO) was founded on January 16, 1967. It is a unique organization engaged in promotion of trade and business cooperation between Japanese enterprises and former socialist countries of Eurasia (Russia, Ukraine, Belarus, Moldova, Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, Tajikistan, Azerbaijan, Armenia, Georgia and Mongolia). ROTOBO has nearly 200 member companies including trading firms, manufacturers, banks, securities companies, industrial ...
11/13/2023Armenian Security Council Secretary will not attend a meeting of CIS Security Council heads in Moscow
... Council Tatevik Petrosyan told Armenpress news agency. Earlier this month Russian Foreign Ministry spokeswoman Maria Zakharova lashed out at Armenia for sending Armenian Security Council Secretary to attend the two-day talks in Malta on October 28-29 on Ukraine's plan for peace with the participation of more than 65 countries. Maria Zakharova said Moscow views Armenia’s participation as a ‘demonstratively anti-Russian gesture.’ She also accused a number of media outlets in Armenia, which she claimed ...
11/07/2023Armenia's foreign trade grows by 45.8% to $13.6 billion in 9 months of 2023
... to over $13.6 billion, the National Statistical Committee said. Of CIS countries Armenia's largest foreign trade partners were Russia (about $4.8 billion, up 47.7% compared to the first nine months of 2022), Belarus ($152.8 million, 16.6% growth) and Ukraine ($67 million, 8% growth). Armenia's trade with the EU countries amounted to a little over $2 billion with a 30.8% yoy growth. The five largest trade partners were Germany -$495.4 million, (49.8% growth), Italy- $316.1 million (33.7% growth), the ...
11/06/2023More than 1.8 million foreign tourists visited Armenia in 9 months of 2023
....2% compared to nine months last year), Georgia (185,082 people or 10.1%, up 60.2%) and Iran (116,062 people or 6.3%, up 27.9%). Besides, Armenia was visited by citizens from the USA (48,745 people), France (22,515), Germany (22, 021), India (21,525), Ukraine (20,470), China (14, 377), Belarus (13,705), Philippines (11,882), The Netherlands (10,966), Italy (10, 713). In the reporting period, 13 citizens of Azerbaijan and 9,050 citizens of Turkey also visited Armenia. Some of the tourists were from ...
11/06/2023Russia's all-out war of sanctions against Armenia will lead to deep recession of Armenian economy - ex-deputy prime minister
... is in the political realm," he said. In this regard, Gabrielyan added that Russia, despite the aggravation of relations with countries such as Moldova and Georgia, did not apply a policy of total sanctions against them. "Even in the case of Ukraine, Russian natural gas continues to flow to Ukraine and through it to Europe," he said. -0-
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