Armenia benefits greatly from influx of capital and IT specialists - EBRD chief economist Thursday, May 16 2024
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 ArmInfo. Beata Javorcik, Chief Economist at the European Bank for Reconstruction and Development (EBRD), clarified what caused the "optimism" of the EBRD, which in its latest report forecasted a 6.2% growth of the Armenian economy, answering a question from an ArmInfo correspondent. |
ArmInfo. On May 16, Prime Minister of the Republic of Armenia Nikol Pashinyan received EUCommission Executive Vice-Preside,Trade Commissioner Valdis Dombrovskis.
ArmInfo. Prime Minister Nikol Pashinyan received Axel van Trotsenburg, World Bank Senior Managing Director of Development Policy and Partnerships, and Alfonso Garcia Mora International Finance Corporation (IFC) Regional Vice President.
ArmInfo. The European Bank for Reconstruction and Development (EBRD) is boosting its support for micro, small and medium-sized businesses (MSMEs) in Armenia by extending new financing to Armeconombank, a press release from the EBRD notes.
ArmInfo.Idram Junior and Koreez educational program signed a memorandum of cooperation. Organizations are developing a new competition for financial education, in which all students from 3rd to 8th grades interested in the field will have the opportunity to participate.
ArmInfo.As part of a pilot program to introduce an agricultural insurance system, the Armenian government will not only subsidize insurance premiums, but will also compensate the costs of insurance companies if a certain threshold of insurance payments is exceeded.
ArmInfo.The Asian Development Bank (ADB) intends to expand its areas of activity in Armenia. Luke Fochtman, Deputy Country Director of ADB (Asian Development Bank )Armenia Resident Mission stated this during a press conference on April 11, presenting the ADO (Asian Development Outlook).
ArmInfo. According to estimates by the United States Agency for International Development (USAID), to increase energy independence, Armenia needs a new nuclear power plant with a capacity of 600 MW. Abgar Budaghyan, head of USAID Armenia's energy security project, expressed such an opinion on April 26 during public discussions on "Prospects of diversification of the energy sector in Armenia".
ArmInfo.According to data for 2022, Armenia imports 73% of its energy resources, that is, the level of energy independence is about 27%. Abgar Budaghyan, head of USAID Armenia's energy security project stated on April 26 during public discussions on the topic "Prospects for diversification of the energy sector in Armenia."
ArmInfo. Team Telecom Armenia has developed a new Be Free package, which provides the opportunity to unlimitedly use major video platforms without consuming Internet traffic. According to the company's press service, this offer covers applications such as YouTube, Netflix, Snapchat, TikTok and other top platforms.
ArmInfo. Team Telecom Armenia will support TUMO's mission (TUMO Center for Creative Technologies) to make modern technology education accessible to all young people in Armenia.
ArmInfo.The average market value of real estate of apartment buildings in Yerevan was 457.3 thousand drams/1 sq.m., in Q1 2024, 12.9% higher than the year-ago figure, according to the data from the State Real Estate Cadastre Committee.
ArmInfo. The average market price of apartments in the regions of Armenia in 2023 increased by 13.4%, amounting to 130.8 thousand AMD/1 sq.m.
ArmInfo.In Armenia, four-month inflation of 0.8% was triggered by food and services, which rose in price by 1.8% and 0.9%, respectively, while non-food products fell in price by 1.6%. This is not much different from last year's picture, when in January-April 2023 inflation of 0.9% came from an increase in food prices by 1.6% and an increase in the price of services by 1.1%, with a decrease in the price of non-food goods by 1%. This is evidenced by the data of the RA Statistical Committee.
ArmInfo.Service sector of Armenia provided revenue in the amount of 473.1 billion drams in Jan-Feb 2024 ($1.2 billion), slowing down in y-o-y growth from 23.5% to 5.2%. This is evidenced by data from the RA Statistical Committee, according to which in February alone, the service sector showed a decline of 0.3% - to 236.2 billion drams ($584.2 million).
ArmInfo. Metallurgical industry of Armenia increased production volumes by 37% per annum in Jan-Fe 2024 (versus a 31% decline a year earlier). This is evidenced by the data of the RA Statistical Committee.
ArmInfo.The 1.2% deflation in the consumer market of Armenia in March 2024 compared to March 2023 (compared to the 5.4% inflation recorded a year ago) was caused by the drop in food prices. In Q1 2024, inflation was slightly lower than last year's quarterly level - 0.2% versus 0.8%, which was the result of cheaper non-food products.
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