16:55 | June 2, 2018
The government of newly elected Armenian Prime Minister Nikol Pashinyan has given the economy top billing in its 29-page policy paper, presented to the parliament for final approval, but those looking for specifics may feel shortchanged.
19:47 | May 22, 2018
These findings, recently released by the Ministry of Finance’s budgetary audit inspectorate, reveals that the ministry was woefully lax in monitoring the expenditures, totaling the equivalent of US$1.080 million at today’s exchange rate.
12:55 | May 17, 2018
Inspections were carried out by the Inspectorate for Financial and Budgetary Supervision of the Ministry. The Inspectorate checked the accuracy of the expenditure of state budget, special funds and other state sources paid to companies that are more than 50% state-owned and other entities.
15:41 | March 24, 2018
Armenia exported some $152 million in copper ore to Bulgaria in 2016. In the first half of 2017, of the $133.8 million in goods Armenia exported to Bulgaria, $133.6 was copper ore.
22:35 | February 2, 2018
On September 3, 2013, during a meeting with Russian President Vladimir Putin, Armenian President Serzh Sargsyan declared that Armenia wished to join the Customs Union; which later became the Eurasian Economic Union (EAEU).
15:55 | January 9, 2018
During the first eleven months of 2017, according to Armenia’s National Statistical Service, trade between the two neighboring countries amounted to US$237 million, up 7.8% from the same period in 2016.
17:58 | November 2, 2017
The report, which investigates regulations that enhance business activity and those that constrain it, ranks Armenia in 47th place, out of 190 countries, in the ease of doing business.
14:22 | October 13, 2017
Numbers released by the National Statistical Service show that 18.4 million liters of brandy were produced in the first eight months of 2017, up 60.7% from the same period in 2016.
11:26 | September 20, 2017
The 6th Armenia-Diaspora Forum took place in Yerevan on 18-20 September. Sessions and discussions related to Armenia’s economy, national security, foreign policy and preserving Armenian identity were on the agenda.
13:27 | August 4, 2017
The expo's theme is "Future Energy", and aims to create a global debate between countries, nongovernmental organizations, companies and the general public on the crucial question: "How do we ensure safe and sustainable access to energy for all while reducing CO2 emissions?”
21:00 | July 12, 2017
A study released by Armenia’s National Statistical Service (NSS), entitled “2016: The Social Situation and Poverty in Armenia”, says that the per capita median monthly wage in the country is 55,000 AMD (around $115).
15:08 | May 11, 2017
Vardan Harutyunyan, president of Armenia’s State Revenue Committee, told reporters today in Yerevan that the percentage of large businesses evading paying taxes has decreased from 48.8% at the end of 2016 to 33.2% today.
17:33 | April 6, 2017
Last year, $209 million worth of cigarettes and other tobacco products were exported – a total of some 21 billion cigarettes, cigars and cigarillos; almost 75% of domestic production.
13:53 | January 31, 2017
Transfers started to fall in 2014 due to a faltering economy in Russia, where the bulk of those leaving Armenia for seasonal work go to. A drop in oil prices and sanctions imposed by the West made matters worse.
15:45 | December 13, 2016
While the plan to build a neighborhood for Syrian-Armenian refugees in the town of Ashtarak, a half hour drive from Yerevan, never got off the ground, monies donated for the cause remian unused years later.
13:14 | December 1, 2016
Along with the fall in foreign investment and the rise in government debt, Armenia’s GDP during the 3rd quarter of 2016 has fallen 2.6% when compared to the same period last year.
17:31 | November 22, 2016
While Armenia continues to import nearly twice as much as it exports, the country’s foreign trade deficit lessened somewhat when compared to the same period in 2015. While exports increased by 19.8%, imports decreased by 0.3% overall.
16:24 | November 9, 2016
These levels clearly show that the poorest in Armenia have either remained on the same level, or fallen back, after the international financial crisis of 2008, and that the wealthiest have gotten wealthier still.
14:59 | September 30, 2016
Hakob Avagyan, president of Armenia’s Small and Medium Sized Business Cooperation Association, complained that the country’s new tax code was drafted without any feedback from the business community.
17:09 | September 22, 2016
During the first seven months of 2016 Armenia produced 13,000 tons of cheese, 3,600 tons of yoghurt, 3,500 tons of sour cream, 550 tons of cottage cheese, 317 million liters of milk, and 7 million liters of ice cream.
10:12 | September 21, 2016
When it comes to wine making in Armenia, there’s what produced in a villager’s still and what’s produced in wineries and factories – the former isn’t taxed, even though oftentimes homemade wines is sold.
15:19 | July 13, 2016
The company’s brief reply reads: “The 3% decrease in operating costs wasn’t able to compensate for the 16% decrease in operating revenues. As a result, there has been a 49% reduction in profits.”
11:04 | July 4, 2016
Armenia’s National Statistical Service (NSS) reports that US$109.5 million entered Armenia via private transfers and that $67.5 million left the country via the same route in May 2016.
10:42 | June 24, 2016
From a purely publicity perspective, the fact that Pope Francis has announced that his visit is a personal pilgrimage to the first Christian nation bodes well for Armenia in terms of attracting pious, and the just plain curious, tourists from the world over.
13:09 | June 9, 2016
Armenia’s Central Bank reports that as of the end of April 2016, the country’s gross international reserves amounted to US$1.568 billion, a drop of $58.2 (3.6%) million from the previous month.
14:30 | May 24, 2016
Armenia’s National Statistical Service reports that the service sector in the country grew by 2.7% in 2015 when compared to 2014 and that the “culture, entertainment and relaxation” sub-sector grew by a whopping 68.1%.
15:18 | March 3, 2016
Russia remains the main source of private money transfers to Armenia - $29.8 million last month. This is 20% less than in January 2015 and the fall can be credited to, among other factors, a struggling Russian economy.
13:21 | February 17, 2016
While the Armenian government continually boasts that the country’s industrial output grew by 5% in 2015, the press and professional pundits have, in contrast, factually proven that the uptick was mainly the result of a 50.4% increase in mining production and that industrial output has actually decreased in all other sectors of the economy.
13:37 | February 9, 2016
Non-commercial overseas money transfers to Armenia amounted to US$ 1.208 billion, a drop of $520 million in 2015 in comparison to 2014, this according to the country’s National Statistical Service (NSS).
14:27 | August 28, 2015
Armenia produced 147,000 tons of copper ore in the first half of this year (up 54.2% over the same period in 2014) and 4,800 tons of blister (convertible) copper (down 3.7%), according to the country’s National Statistical Service.
14:54 | August 25, 2015
Armenia produced 4.406 billion kWh of electricity in the first seven months of this year – 1.9% more than the same period in 2014, according to the National Statistical Service.
11:33 | August 11, 2015
Armenia’s National Statistical Service reports that in the first half of 2015 Armenia produced 4.35 million liters of vodka (down 2.1% from the same period last year), 6.45 million liters of brandy (down 3.2%), 9.72 million liters of beer (down 14.1%).
11:23 | August 11, 2015
Walk down the aisle of any store or supermarket in Armenia and you’ll have a hard time spotting any of the fancy imported mineral waters so common in New York, Paris or London.
11:06 | July 29, 2015
Rosgosstrakh-Armenia is the largest with a 30.7% market share, followed by Ingo Armenia (26.6%), Nairi Insurance (15.8%), Sil Insurance (12.1%), Reso (8.7%) and Armenia Insurance (5.9%).
11:23 | July 27, 2015
As of March 31, 2015 the IMF has lent Armenia US$ 412.580 million, or 10.5% of the country’s total foreign debt. (According to Armenia’s National Statistical Service – NSS). Armenia became a member of the IMF in 1992.
11:42 | July 25, 2015
During the first six months of this year, Armenia produced 3.792 billion kWh of electricity, up 1.5% over the same period in 2014, according to Armenia’s National Statistical Service.
14:14 | July 23, 2015
Orange Armenia (OA) CEO Francis Gilbert has told the press in Armenia that while his company is negotiating with internet and cable TV provider Ucom regarding the latter’s purchase of 100% of OA stock, OA will continue to operate under its own name for at least another twelve months.
17:50 | July 10, 2015
In the first five months of 2015 Armenia produced 7.1 million liters of beer, 4.380 million liters of brandy 3.9 million liters of vodka, 2.241 million liters of wine, and 143,000 liters of champagne.
12:36 | July 2, 2015
Gross earnings for the 268 hotels and other tourist accommodations operating in Armenia was 24.955 billion AMD (US$52.8 million) in 2014, a 51.5% drop when compared to 2013 gross earnings of 51.273 billion.
11:19 | June 30, 2015
The total value of precious metals and gems, and items produced from them, in Armenia’s treasury as of January 1, 2015 amounts to 1.502 billion AMD (US$3.175 million) according to Armenia’s Ministry of Finance.
13:35 | May 29, 2015
According to recent figures released by Armenia’s State Committee of the Real Estate Cadastre there were 3,318 buy and sell transactions for apartments and houses in the first quarter of 2015, down 27.6% over the same period last year.
11:08 | May 19, 2015
According to the latest figures released by Armenia’s Central Bank, deposits in the country’s 21 commercial banks amounted to 1,711,299,000,000 AMD (US$ 354,7984,877) as of March 2015.
12:36 | May 12, 2015
Cigarette production in Armenia is taking off. According to the National Statistical Service, 2,891,000 cigarettes were produced in Armenia in the first quarter of 2015 – up 28.4% over the same period last year.
12:25 | May 7, 2015
Despite the fall in prices, molybdenum remains an important component of Armenia’s economy. In 2014 Makour Yerkat paid 2.271 billion AMD ($4.7 million) in taxes, and Armenian Molybdenum Production paid 906 million AMD ($1.9 million).
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