Fly Arna, Armenia-based low-cost airline, made its inaugural flight to Georgia on October 30 to Tbilisi International Airport, TAV Georgia, the company operating two airports in Georgia, announced. The Armenian national airline performed the flight from Yerevan to Tbilisi, carrying 167 passengers. On the same day 110 people departed from Tbilisi to Yerevan. Fly Arna…
Armenian Prime Minister Nikol Pashinyan said a “noticeable growth” was observed in the Armenian-Georgian trade and economic relations “despite challenges”. “We have a 97% increase in trade turnover”, Pashinyan said at the opening ceremony of the Bridge of Friendship on the border crossing between the two states on the Debeda River. The PM also said…
Minister of Economy Vahan Kerobyan has commented on the sanctions imposed on Russia by the West and several other countries and declared that Armenia is worried about the situation. According to him, the government will try to mitigate the possible consequences of sanctions against Russia on the Armenian economy. “We are studying all the factors.…
Moody’s Investors Service has affirmed the Government of Armenia’s Ba3 local and foreign currency long-term issuer ratings and foreign currency senior unsecured rating. The outlook remains stable. The affirmation of the Ba3 ratings is driven by the credit profile’s resilience to the significant shocks of the coronavirus pandemic and geopolitical and domestic political tensions, and…
The Cabinet has approved the action plan on building a new village for the reconstruction of the unfinished Kaps Reservoir in Shirak Province. The village will be provided for the resettlement of residents whose homes are situated in areas, which will be part of the reservoir. The Kaps Reservoir is located in the Akhuryan floodplain…
Armenia’s economic activity index in January-May declined by 3.9% YoY, according to the data released by the National Statistical Committee. Industrial production volume grew by 2.4%. The volume of construction in January-May declined by 23.4%. The decline in trade turnover comprised 10.8% and that in the services field – 4.2%. In January-May, consumer price index…
Economic activity in Armenia shrank by 17.2% YoY in April, data from the National Statistical Service revealed. Economic activity has contracted as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak. Though the state of emergency has been extended, most restrictions have been removed. In the reporting period,…