The Armenian government is planning to launch a universal income filing system, requiring citizens to periodically submit income disclosures to tax authorities.
Armenia’s Public Services Regulatory Commission (PSRC) today decided not to raise natural gas prices for most individual consumers.
In April of this year, the number of registered workers receiving wages in Armenia decreased by 74,359 (12%) when compared to the previous month.
Armenia’s Economic Activity Index (EAI) dipped 17.2% in April, when compared to the same period last year, according to the country’s Statistical Committee.
In the last two years, up to six tons of gold (including gold powder - platinum galvanic coating) has been exported from Armenia annually. It is exported in the form of a doré alloy, part of which is silver. It is exported by GeoProMining Gold LLC.
The amount transferred in the first quarter of this year amounted to US$354 million, a decrease of $38 million.
Armenia’s Statistical Committee reports that the number of tourists traveling abroad from Armenia in the first quarter of 2020 is also down when compared to 2019.
The Armenian government has decided to open retail businesses in the country starting on Monday, May 4, except for shopping malls and supermarkets.
The negative impact of the coronavirus on the Armenian economy can be seen in official statistics.
Ex-deputy prime minister of Armenia, economist Vache Gabrielyan believes that the loan programs proposed by the Government to counter the economic consequences of COVID-19 are ineffective at this stage.
Armenian Minister of the Economy Tigran Khachatryan, at a Yerevan press conference today, said that the ongoing coronavirus crisis would result in significant losses to the country’s economy in 2020.
Gazprom Armenia proposes to cut natural gas prices by 2.2% for consumers up to 10,000 cubic meters a month. The company's statement also contains uncertainty.
Armenia exported 562,000 tons of copper concentrate in 2019, the largest amount in the past ten years. It is noteworthy that in 2019 copper was exported at a cheaper price than in the previous year.
Armenia experienced a 4.6% growth in construction in 2019, totaling some AMD 435 billion ($908m).
Several Armenian truckers carrying goods of Iranian origin have been unable to cross the Armenian-Georgian border for the past four or five days.
In 2019, $1.959 billion was sent to Armenia by individuals overseas via bank transfers. This is an increase of 9.7% ($174 million) over 2018.
The ever-growing coronavirus is not only impacting China’s economy but is throwing global economic forecasts into the realm of uncertainty.
While Armenian government officials responsible for the country’s economy like to boast about annual economic growth of 7% and near double-digit growth in exports, they rarely break down the figures for public consumption.
Telcell, Idram, EasyPay, MobiDram – are linked to former government officials and banking system companies
189,018 cars were imported to Armenia in 2019, three times more than in 2018.
As of the end of December 2019, Armenia's gross international reserves were estimated at about $2.840 billion. Reserves increased by $580.5 million (25.7%) when compared to December 2018, according to data provided by the Central Bank.
23.5% of Armenia's population was living below the poverty line in 2018 according to data released by the country’s Statistical Committee. That’s about 700,000 people, or one in every four persons in the country.
Armenia, with a score of 61.3, ranks 69th the World Economic Forum’s 2019 Global Competitiveness Index 4.0 covering 141 economies.
Increased revenues and expenditures resulting in budgetary deficit of 182.6 billion drams
71% of them are said to be Armenian citizens now living abroad, either staying with relatives or renting apartments while in the country. The rest stay in hotels or other tourist-related lodgings.
Drivers and traders in Armenia are rushing to import cars from abroad by the end of the year before customs duties are raised.
In all, according to the State Cadastre Committee, 5,061 apartment units were sold in the first six months of this year, down by 5.3% from the same period last year.
Armenia’s Ministry of the Economy says it has no data as to what sectors of the country’s economy received foreign investment money in the first quarter of this year.
Two of the top ten taxpaying companies in Armenia during the first half of 2019 are from the mining industry. Another two are among the top 100 largest taxpayers.
During the first five months of this year, individuals from around the world sent some US$705 million to Armenia via banks. Compared to the period in 2018, the amount of remittances increased by $81 million, or 13%. This data is provided by Armenia’s
Members of parliament peppered Armenia Minister of Finance Arman Poghosyan with questions regarding the flat tax proposal, asking whether such an approach could be considered socially progressive and what the consequences would be in terms of the sta
Trade between Iran and Armenia rose substantially in 2018, mostly due to greater Armenian imports from Iran.
Today, the network has more than two dozen members from various spheres. Some have their own business, while others are involved in different businesses.
The claim is realistic because trade between the two countries dropped by 42.9% in 2018 in comparison to 2017.
Armenia's economic activity index grew by 6.1% in January this year, compared to the same month of the previous year.
The average monthly per capita expenditures for households in Armenia in 2017 amounted to 44,413 drams (US$91.42 at current rate).
Armenian State Revenue Committee (SRC) President Davit Ananyan today told reporters that 128 employees were let go at the end of 2018 due to restructuring at the tax and customs authority.
Half of those living below the poverty line in Armenia don’t consider themselves poor, this according to a new study released by the country’s National Statistical Service (NSS).
Services fueled most of the increase, growing 17.5% last month over 2017. Trade was the next largest growth sector at 5.3%.
The DC says that the 2017 poverty rate dropped 3.7%, to 25.7%, in 2017 when compared to 2016.
The eleven parties/political alliances running in the December 9 snap parliamentary elections in Armenia have a variety of opinions regarding income tax policy and mandatory social security contributions, two economic issues that are being widely deb
Yerevan apartment prices rose an average of 9.9% in the third quarter of this year, as compared with the same period last year, with the Kentron (Center) district of the Armenian capital leading the way at 19.4%.
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.
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.
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.
Protests targeting the ruling Republican Party of Armenia (RPA) aren’t confined to the streets of Yerevan, the capital of Armenia.
Most of the reserves are in the form of foreign currency. Armenia sold all of its gold in late 2003.
Armenia’s foreign debt amounted to $5.560 billion at the end of February; a decrease of $15.8 million compared to January.
Armenia’s Central Bank reports that $28.3 million of the above amount was sent to recipients in Russia; an $11.7 million increase over January 2017.