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Monthly Archives: August, 2023

VTB (Armenia) supports release of new edition of tale-story ‘Tsipili, Timbaka and Laughter’

VTB (Armenia) partnered Newmag publishing house for the release of a new illustrated edition of a tale-story «Tsipili, Timbaka and Laughter" authored by a well-known Armenian writer, poet and playwright Saghatel Harutyunyan, the bank’s press office said

Unibank automates approval of “Micro Express” collateral-free business loan

Unibank has automated the process of approval of "Micro Express" collateral-free business loan, saying that from now on a preliminary decision on business loan issuance can be received in 5 minutes

WB: in June, Armenia’s budget recorded another surplus of AMD 34 billion, driven by a 15.4 percent (yoy) increase in tax revenue collection

In June, the budget recorded another surplus of AMD 34 billion, driven by a 15.4 percent (yoy) increase in tax revenue collection, World Bank said in its latest Armenia monthly economic update for august 2023

WB: net money transfers from Russia to Armenia 33 percent lower than in June 2022, but still three times higher compared to June 2021

In June, 2023 net money transfers from Russia were 33 percent lower than in June 2022, but still three times higher compared to June 2021, according to World Bank's 'Armenia monthly economic update – august 2023

WB: sharp fall in Armenia’s  inflation due to lower external inflationary pressures

Prices registered a slight deflation in June and July at 0.5 and 0.1 percent (yoy), respectively, bringing average inflation through July down to 3.6 percent, according to World Bank's 'Armenia monthly economic update – august 2023

Russian Central Bank registers new Kwikpay int’l remittance system

The Central Bank of Russia (CBR) has registered the new Kwikpay international remittance system, the regulator said on Monday

S&P Global Ratings expects the dram to begin to depreciate as the current account deficit widens and transfers slow.

We expect the dram to begin to depreciate as the current account deficit widens and transfers slow, S&P Global Ratings said

Standard&Poor’s forecasts inflation in Armenia at 2.5% in 2023

The S&P Global Ratings expects inflation in Armenia to average 2.5% in 2023, which is below the Central bank’s target

Armenia’s banking sector appears well capitalized, profitable, and liquid, S&P Global Ratings said.

Armenia's banking sector appears well capitalized, profitable, and liquid, S&P Global Ratings said

Armenian exporters worried about ruble exchange rate – Reshetnikov

The dramatic depreciation of the Russian ruble and the unprecedented appreciation of the Armenian dram have been a concern for Armenian companies, which sell their products in  Russia, Russian Minister of Economic Development Maxim Reshetnikov said after a ‘business-breakfast’ meeting of business people from both countries today in Yerevan

Armenian Central Bank puts “30 Years of National Currency” silver collector coin into circulation

The national currency of the Republic of Armenia, the dram, is one of the symbols of independent statehood. The dram was put into circulation on November 22, 1993

Acba Bank and NABU sum up  results of  “Development of Organic Agriculture in 2023-2024” program’s competition

The Acba Bank and Germany's Nature and Biodiversity Conservation Union (NABU) have summed up the results of a competition announced as part of a jointly implemented "Development of Organic Agriculture in 2023-2024" program