Monthly Archives: July, 2022

Yield of Armenian pension funds decreased, but experts expect growth

In the first six months of 2022, Armenian funded pension funds recorded a negative result in terms of yield, Deputy Executive Director of Amundi-ACBA Asset Management and coordinator of the funds Hrayr Aslanyan said at a press conference on Friday

Yerevan municipality and central bank sign MoU to cooperate in using debt instruments

Yerevan Municipality and the Central Bank of Armenia signed a Memorandum of Understanding to develop an efficient electronic accounting systems and application of debt instruments, Yerevan Mayor Hrachya Sargsyan said on his Facebook page

Government grants preferential mortgages to 525 army officers

The Armenian government at a meeting on Thursday approved a decision to grant preferential mortgages to 526 career army and warrant officers

Armenian commercial banks paid 32.9 billion drams in taxes in first half of 2022

Sixteen out of 17 Armenia-based commercial banks are in the list of the 1000 largest corporate taxpayers in the first half of 2022 having paid about 32.9bln drams in various taxes, according to the State Revenue Committee (SRC)

Top ten Armenian banks according to Russian edition of Forbes

The Russian edition of Forbes magazine says that for many Russians opening an account in a foreign bank has become an urgent necessity in recent months. In early July, Armenian Minister of Economy Vahan Kerobyan said that since March, 2022 nearly 30,000 Russian citizens moved to Yerevan "for a long-term stay"

Armenia saw largest ever amount of remittances from Russia in May, 2022

The central banks of many former Soviet republics saw a surge in remittances from Russia in April and May of 2022, according to a Russian business daily Kommersant

Higher inflation in Armenia speaks about additional inflation influenced by Russian economy- America

The impact of foreign trade and remittances along with high rate of dollarization in savings makes exchange rate very important factor for the Armenian economy, according to the quarterly macroeconomic report ‘Impact of Regional Exchange Rates on Inflation’ released by Ameria advisory firm

WineWorks gives new breath to Armenian winemaking (video)

Lalvar, Kaputkeni and Jrjruk grape varieties grown in the Armenian province of Tavush, Khndogni in Artsakh (Nagorno-Karabakh) and Areni in Vayots Dzor: WineWorks has mapped Armenian grape varieties by region, the press service of Acba Bank reported

AraratBank rolls out a new service – Fora-Online

AraratBank has expanded its remittance network, undertaking a new cooperation with Fora Bank

GPWs acquisition of controlling stake in AMX to stimulate cooperation between Armenia and Poland in capital market

On July 19, Foreign Minister of Armenia Ararat Mirzoyan, who is in Poland on an official visit, had a meeting with the Deputy Prime Minister of the country Jacek Sasin

Armenian business community dissatisfied with SRC’s plan to amend Law on Banking Secrecy

The business community of Armenia is dissatisfied with a package of proposals, designed by the State Revenue Committee (SRC) to amend the Law on Banking Secrecy and other related laws

Share of mutual settlements between EEU member states in national currencies is likely to reach 80% in 2022

The share of mutual settlements between Eurasian Economic Union (EEU) member states in national currencies is likely to reach 80% in 2022, spokeswoman of the Eurasian Economic Commission (EEC) Iya Malkina told a press briefing today in Moscow