Armenia to receive budget loan from World Bank
The World Bank will provide Armenia with a loan worth more than 90 million euros through the International Bank for Reconstruction and Development. The funds will be used to cover the budget deficit.
Armenian economy
Migrants from Karabakh leave Armenia due to poverty and unemployment
The Armenian population of the Karabakh economic region of Azerbaijan, who had previously decided to leave for Armenia, faced new difficulties. Former migrants are again looking for a new home since unemployment and poverty awaited them in Armenia.
Bank of Georgia plans acquisition of leading Armenian bank
Bank of Georgia confirmed it is in advanced talks with Ameriabank about a potential acquisition of the Armenian bank. According to the …
Armenia increases trade with EEU member states
Armenia's trade with the Eurasian Economic Union (EEU) member countries in 2023 surged by 39% when compared to 2022 to about $7.8 billion, Armenian Prime Minister Nikol Pashinyan said at a meeting of the Eurasian Intergovernmental Council in …
Armenian Central Bank continues reduction of refinancing rate
The Central Bank of Armenia announced a reduction in the refinancing rate. For the last month and a half it has been at the level of 9.25%.
Armenian Parliament approves budget for 2024
Members of the Armenian parliament adopted the country's budget for next year. The budget deficit will amount to about 483 billion drams.
Armenia's public debt increased by 43% in drams
Since the beginning of the year, the share of Armenia's public debt has increased by 43% in the national currency. Overall, the Central Bank's debt has decreased, while government debt has increased.
Commemorative coins issued dedicated to Armenia's dram anniversary
The Central Bank of Armenia has put into circulation a series of commemorative coins of 10, 20, 50, 100, 200 and 500 dram dedicated to …
Armenia's Central Bank lowers refinancing rate once again
The board of directors of the Central Bank of Armenia on September 12 cut the refinancing rate by 50 basis points to 9.75% per annum, the regulator said in a statement. The Central Bank's board cut the refinancing rate by 25 bps to …
Economic activity in Armenia increased
Armenia's economic activity in 2022 was up 14.2% as opposed to the previous year, according to the numbers, released by the National Statistical Committee (NSC). It said the economic activity surged by 21.5% in December 2022 …
Armenian parliament approves government budget for 2023
The Armenian parliament has approved today the government's budget for 2023 by a vote of 66 to 28. The budget was endorsed by lawmakers from the ruling Civil Contract party of Prime Minister Nikol Pashinyan. Lawmakers from the …
Armenia's GDP grows by 14.8% in third quarter
Armenia's GDP grew by 14.8% year-on-year in the third quarter of the current year, according to the official numbers, released by the National Statistical Committee (NSC). In current prices, the country's GDP amounted …
Armenia's Central bank raises key rate to 9.5%
Armenia's Central Bank decided today to raise the refinancing rate by 0.25 percentage points and set it at 9.5%. The Lombard repo rate was also increased to 11%. On March 15, 2022 the Central Bank had already raised the key rate by …
Armenian central bank leaves key rate unchanged
Armenia's Central Bank Management Board has decided today to leave the refinancing rate at 9.25% unchanged. According to the press service of the regulator, the Lombard repo rate also remained unchanged at 10.75% and the rate of …
Pashinyan: Armenian economy affected by anti-Russia sanctions
Armenian Prime Minister Nikol Pashinyan said the situation in Russia's economy, which is under Western sanctions, is unpleasant for Armenia. "But to be frank, in the first quarter (of 2022) we recorded economic growth of 8.6% …
Armenian central bank raises key rate
Armenian Central Bank's Board has raised today the refinancing rate by 1.25 percentage points, setting it at 9.25%. According to the press service of the regulator, the Lombard repo rate is set at .75%. The rate of lending to …
Armenia is facing high inflation
Inflation in 2021 was expected to be at 8.4%, with a subsequent decrease to 5.5% in 2022
Armenia's parliamentary committee declines draft law to raise minimum wage
The Armenian parliamentary committee on labor and social affairs has declined a draft law motioned by the opposition Hayastan (Armenia) alliance, which calls for raising the minimum wage from 68,000 to 100,000 drams. To ground the draft …
Armenia may lift ban on Turkish imports
The Armenian government will have either to approve the extension of a ban on Turkish imports or cancel it, when it convenes Thursday for the last session in 2021, Armenian Minister of Economy Vahan Kerobyan said. According to the …
Reconciliation with Azerbaijan economically beneficial to Armenia
The 2020 war between Armenia and Azerbaijan resulted in the liberation of occupied territories by Azerbaijan and put an end to a three-decade-long conflict
