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.
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.
89% of the country’s foreign debt is owed by the government. The remainder is owed by the Central Bank of Armenia.
Of interest is the fact the bulk of the 22.3% growth in the culture/entertainment sector can be traced to the country’s casino and gaming parlors.
By the end of 2007, Armenia's total public debt (internal and external) totaled 1.7 billion US dollars.
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).
Armenia exported US$2.243 billion worth of goods in 2017, up 25.2% from 2016.
The report published on the Tax Service website shows that around 97% of the mentioned 1,155 trillion drams are tax revenues and the remaining 3% are state taxes.
During the first eleven months of 2017, US$1.1561 billion in remittances were sent to Armenia, via banks, by individuals living abroad.
According to Armenia’s State Revenue Committee, the country exported 444,000 tons of copper ore between January and November 2017 worth US $527 million.
When it comes to predicating GDP growth in Armenia for 2018, analysts at the World Bank are a bit less optimistic than government economists in Yerevan.
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.
On average, in 2016, a citizen of Armenia spent AMD 43,978 per month; 42.1% on food.
The country’s official 2016 poverty level was 29.4% (880,000 individuals), of which 8% were very poor and 1.8% extremely poor.
Canada had been the largest importer of Armenian gold prior to this. In 2016, Armenia exported $140 million in worth of goods to Canada – 94% was gold.
The CB pegs unemployment in Armenia in 2018 at 17.9%
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.
Yogurt production dropped 1.1%, cream cheese dropped 9.6%, and sour cream dropped 20.4%.
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.
Armenia’s national debt rose US$57.9 million in August, amounting to $6.259 billion by the end of the month, this according to the country’s National Statistical Service.
It still lags behind the 5.5% growth in the country’s Economic Activity Indicator for the first eight months of this year when compared to 2016.
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.
Armenia’s Central Bank now says the country will experience 3.9-4.8% economic growth this year, up from its original estimate of 3.3-4.8% released after the 1st quarter.
Verin Khotanan is a village in Armenia’s southern Syunik Province. More than half the population is older than 70.