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Monthly Archives: November, 2020

EDB expects consumer price index in Armenia to drop to 1.1% in 2021 from 1.2% at the end of 2020

According to the Eurasian Development Bank (EDB) Macroeconomic Forecast for 2020, the EDB expects inflation to slow down in 2021 in most countries in the region

Statement on Artsakh war can open Turkey’s ports and Azerbaijan’s market for Armenia

Vahan Kerobyan, newly appointed minister of economy of Armenia, who is founder of Menu Group food delivery service, outlined the opportunities that the domestic economy will receive as a result of unblocking transport communications in the region, according to a statement on Artsakh dated November 9

Armenian dram devaluation is mainly based on psychological factor – MP

The devaluation of the dram observed in Armenia in recent days is mainly based on a psychological factor - changes in human expectations and behavior, Babken Tunyan, an MP from the My Step faction and the head of the standing parliamentary committee on economic issues, said on Thursday answering media questions

Armenia’s per-capital GDP amounts to $ 1,212 in 3rd Q 2020

Armenia's per capital GDP, according to preliminary data, amounted to $ 1,212 in the third quarter of 2020, having increased by $ 326 over the quarter from $ 886 in the second quarter, the National Statistical Committee of Armenia reports

Ardshinbank is recognized as the Safest Bank in Armenia in 2020

As part of the annual survey to compile the Rating of the safest banks in the world, the famous American magazine "Global Finance" for the fourth time recognized Ardshinbank as "The Safest Bank in Armenia for 2020''

Armenia’s hard currency reserves drop to $2.449.2 billion, central bank says

At the end of the third quarter of 2020, Armenia's hard currency reserves stood at $2.449.2 billion, down from $2.648.2 billion at the beginning of the quarter, the Central Bank said in a report

Armenia’s central bank planning operations in the country’s currency market in order to ensure normal functioning of financial markets – EXCLUSIVE

The Central Bank of Armenia plans to conduct operations in the country's currency market in order to ensure the normal functioning of financial markets, Harutyun Berberian, spokesman for the Central Bank of Armenia, told ARKA News Agency on Tuesday

Union of Banks of Armenia supports Karabakh war heroes and their families

'Now it is more than necessary to support the heroes of the Karabakh war and their families,' the Union of Banks of Armenia said in a statement today issued in connection with the Day of the Banker, celebrated on November 23

IMF says SDR 25.714 million (around US$36.7 million) will become available for Armenian budget support after Board meeting

An IMF team reached staff level agreement with the Armenian authorities for the completion of the third review under the program supported by an IMF Stand-By arrangement, IMF said in a press release

The 2020 budget deficit to grow to 7.1% from earlier projected 2.3%

The 2020 budget deficit will grow to 7.1% instead of the 2.3% projected at the beginning of the year, Chairman of the Central Bank of Armenia Martin Galstyan said in parliament on Tuesday

Level of Armenia’s public debt to GDP in 2020 to make 66.5 percent

The level of Armenia's public debt to GDP by the end of 2020 will be 66.5%, against 49.9% in 2019, and in 2021 it will reach 67%, Armenian Finance Minister Atom Janjughazyan said on Tuesday

Armenia’s 2021 draft budget earmarks 215 billion drams as capital expenditure

Armenia's draft 2021 state budget earmarks 215 billion drams or 3.2% of GDP as capital expenditure, Finance Minister Atom Janjughazyan said on Tuesday