The ADB, in its Asian Development Outlook (ADO) April 2025 report, predicts economic growth in the country will continue to slow in 2026, reaching 4.7%.
By the end of 2023, with less than two years of Russia’s parallel import mechanism in place, over $70 billion worth of goods had entered the country, according to Andrei Belousov, then Russia’s Deputy Prime Minister and current Minister of Defense.
In the last ten years, the largest quantity and value of copper concentrate was exported from Armenia in 2021. It then decreased but rebounded last year.
Armenia is spending AMD 696 million to build a school in Garnahovit, a village the Aragatzotn Province, that only has twelve school-aged pupils.
It is profitable for Russia to trade gold through Armenia, since Armenia does not charge export duties, and trade through private individuals allows you to avoid sanctions.
In the first three-quarters of 2024, all of Armenia’s eighteen banks saw profits.
The company is best known for producing the Original Coffee and King coffees brands. The factory is in Geghashen, Kotayk province.
Armenia exported an unprecedented 29.1 tons (US$1.8 billion) of semi-finished and unprocessed gold in 2023.
Armenia’s Administrative Court, in a decision today, has sided with the Investigative Journalists NGO (hetq.am) in a lawsuit filed in February 2023 demanding that the Ministry of High-Tech Industry hand over a list of organizations that received mill
The volumes of processed and unprocessed diamonds imported from Russia to Armenia and other countries, mostly exported to the United Arab Emirates, have increased sharply.
Child poverty in Armenia is pegged at 31.7%. 1.8% of children under the age of eighteen are “extremely poor”.
Yerevan-based Mobile Centre Art LLC was the largest taxpayer in Armenia in the first quarter of 2024, surpassing Gazprom Armenia.
Russia remains the largest source of money transfers (remittance) to Armenia.
There is a hypothesis that this is gold imported from Russia, which is broken up locally and exported as jewelry made in Armenia or as unfinished jewelry.
Armenia’s Central Bank (CB) appears unwilling to specify whether former Artsakh State Minister Ruben Vardanyan has agreed to the planned sale of Ameribank to the Bank of Georgia Group PLC, a UK incorporated international financial group.
Eftek Lab LLC, a company founded in 2022 that received 91.5 million AMD (US$210K) in taxpayer money, went belly-up in January after several months of non-operation.
The World Bank (WB) predicts a slowdown in economic growth in Armenia in parallel with a slowing global economic growth rate.
At first, the factory was operated by LEE Chocolate LLC, and starting in 2023 by LEE Deluxe LLC.
Of the 3.7 million carats of diamonds exported from Armenia in January-October 2022, 3.2 million carats or 86% were exported to the UAE. 424,000 carats went to Russia.
Armenia is set to pay US$65 million to Rusatom Service, a subsidiary of Russian state nuclear corporation Rosatom, to extend the life of the Metzamor nuclear power plant’s second unit until 2036.
period on 2022, the number of tourists increased by 48.4%.
Armenian truckers now stuck at the Lars checkpoint on the Georgian-Russian border claim that Moscow is trying to economically punish Armenia for its recent overtures to the West.
Trade and services continue to weigh heavily in Armenia's economy. In the third quarter, 57.9% of the GDP was derived from these two sectors.
Seven months later, the government confesses it doesn’t know whether the cash has been effectively spent by these companies.
Gagik Aghababyan, who along with Arsen Drambyan founded a wine factory in the Tavush village of Koghb in 2021, tells Hetq that a recent analysis of their wine sales in Gyumri shows that Russians are the main buyers.
While Armenia’s Ministry of High-Tech Industry still refuses to provide the names of IT companies that received government financial assistance, Hetq has compiled a list of 111 companies that received taxpayer money and the amounts of such largesse.
Members of the EU observer mission in Armenia visited the metallurgical plant in Yeraskh that came under Azerbaijani gunfire earlier today.
Petrosyan says Armenia’s electricity demand doesn’t exceed 1,200 megawatts and that hydro, solar and thermal plants can easily make up the difference.
Despite Hetq’s many requests, the ministry has avoided providing the names of the companies receiving this assistance. Hetq requested two types of information: the list of companies that received support and the amount of support.
Armenia is self-sufficient in terms of electricity only at first glance. if we look at it from the point of view of our dependence on imported fuel , then it is not completely self-sufficient.
According to the new forecasts of the European Bank for Reconstruction and Development (EBRD), Armenia’s GDP will grow by 5% in 2023 and 2024.
Relatives of Armenian soldiers who died in the 2020 Artsakh war have been holding a sit-in since yesterday in front of the Investigative Committee (IC) office in Yerevan demanding to know why policemen who forcibly removed people who had gathered at
Former Artsakh Finance Minister Vardan Aramyan today, in Yerevan, presented the findings of a report summarizing the economic and financial impact of the ongoing blockade of the Lachin Corridor.
A record US$5.190 billion in personal remittances was sent to Armenia last year.
It took three months, but Hetq finally identified which company exported 353kg of gold, worth US$20.2 million, to Turkey in the first half of 2022.
26.5% of people in Armenia lived below the national poverty level in 2021 according to the government’s Statistical Committee (SC).
Defense expenditures will see the greatest increase in Armenia’s 2023 draft budget of US$5.7 billion.
Armenian exported 2,515 tons of gold worth US$94 million in the first six months of this year, an increase of 76% over the same period in 2021.
In an interview with Hetq, Hayk Mnatsakanyan, who chairs Yerevan State University’s Department of Finances and Accounting, said last week’s fighting along the Armenia-Azerbaijan border will negatively impact Armenia’s economy in both the long and sho
The Armenian government has bailed out businessman Gagik Tsarukyan’s Shangri La casino to the tune of 5.6 billion drams (US$13.8m) and not the 4.2 billion drams ($10.3m) announced in July.
42.6% of the 588,731 tourists who visited Armenia during the first half of 2022 were citizens of Russia.
Personal money transfers from Russia to Armenia increased 3.7 times in May of this year over the same period last year, reaching a monthly record of US$226 million according to Central bank of Armenia data.
Armenia’s State Revenue Committee (SRC) has removed a controversial draft amendment, that would allow it to access individual business and corporate bank accounts without a court order, from public debate.
Armenia’s State Revenue Committee (SRC) wants to have access to individual and corporate bank accounts without a court order, arguing that bank account holders often refuse to provide such information to tax authorities.
The Warsaw Stock Exchange will pay 873 million AMD (US$1.948) to acquire 65.03% of the shares of the Armenian Stock Exchange
Individuals sent US$561 million in bank remittances to Armenia from overseas during the first quarter of this year, an increase of 38% over the same period in 2021.
Khachatryan told members of a special session of the Armenian National Assembly’s Standing Committee on Economic Affairs that remittances from Russia, which amounted to some US$850 million last year, will probably drop by 40%.
Russia remains the main source of remittances to Armenia even though its share has decreased significantly over the past ten years.
Haykaz Fanyan, Director of the Yerevan-based Armenian Center for Socio-Economic Studies (ACSES), believes that Armenia can indirectly benefit from the financial sanctions imposed by the West on Russia after that country invaded neighboring Ukraine.
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