Economic activity in Armenia shrank by 4.9% YoY in March, data from the National Statistical Service revealed. Economic activity in the country has contracted as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak. In the reporting period, construction and trade declined by 26.2% and by 9.9%, respectively,…
Armenia is still among countries having a low burden of foreign debt, but in the current coronavirus-related conditions an increase of the debt is unavoidable, Finance Minister Atom Janjughazyan has said while commenting on the bill to amend the budget. “The proposed scenario implies a 324-billion dram deficit. To fund this deficit we are considering…
Ukraine and Armenia are stepping up dialogue to strengthen cooperation in various fields. Minister of Social Policy of Ukraine Yulia Sokolovska discussed this issue with Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to Ukraine Tigran Seyranyan, the Ministry of Social Policy reported. “The parties agreed that Kyiv and Yerevan should strengthen cooperation in…
The economic activity index of Armenia grew by 7,8% in 2019 compared to the previous year, the Statistics Committee said in a report. During the reporting period the volume of industrial output grew by 9%, the gross agricultural production dropped by 4.2%, construction increased by 4,6% and trade turnover by 8.9%. Volume of services grew…
The price of gas supplied from Russia to Armenia at the border will not increase in 2020. There is an agreement according to which there will be no change in tariff for consumers until April 1, and Gazprom Armenia CJSC will not submit an application to the Public Services Regulatory Commission, Deputy Prime Minister of…
Armenia will have at least a 7.5% economic growth based on the annual results of 2019, Minister of Economy Tigran Khachatryan has declared. “We have started a very good year as it is built on the good base of 2019. Based on the results of the 11 months of the past year we have a…
With the arrival of a Moscow-Yerevan flight, the Zvartnots International Airport’s 2019 passenger flow exceeded 3,000,000 for the first time in its history. On this occasion, the airport’s administration surprised the passengers of the flight with holiday gifts. In 2018 the passenger flow was 2,690,000. (Armenpress/Business World Magazine)