ArmInfo. Economic relations between Armenia and Iran are at a high level, and in order to  maintain and deepen them, it is necessary to intensify practical  actions to increase trade turnover and expand areas of cooperation.  This was stated by the Minister of Economy of Armenia Gevorg Papoyan  during a meeting with the delegation of the Majlis (Iranian  parliament), headed by the head of the IRI-RA friendship group Ara  Shahverdyan. The meeting was also attended by the Ambassador of Iran  to Armenia Mehdi Sobhani and the head of the RA-IRI parliamentary  friendship group of the National Assembly of Armenia Narek Babayan.

ArmInfo. In the context of global economic and geopolitical challenges, Armenia's membership in the EAEU is extremely important for the stability of the country's economy. This is stated in a statement by the President of the  Russian Tashir Group of Companies Samvel Karapetyan.

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ArmInfo.In 2024, Armenia welcomed 2.2 million tourists, a 7% decrease from the previous year, as reported by Gevorg Papoyan, the Minister of Economy of Armenia, during a press conference on January 13.  He noted that the decrease in tourist numbers was primarily due to fewer visitors from Russia,  while there was an increase in tourists from other destinations,  particularly from China, India, France, Georgia, the UAE, and South  Korea.  At the same time, Papoyan noted that the Ministry has a  target of reaching 2.6 million tourists by 2026, a goal he believes,  is quite realistic.

ArmInfo. The metallurgical plant in Yeraskh is expected to start mass production in February or March of this year, according to Minister of Economy of Armenia Gevorg Papoyan, who expressed a similar view during a press  conference.

ArmInfo. The issue of  leaving the EAEU  is not on the agenda of the Armenian government, as  stated by Armenian Minister of Economy Gevorg Papoyan during a press conference on January 13.  He noted that Armenia's membership in the EU is a parallel agenda. Papoyan said.

ArmInfo. The launch of the Amulsar project is expected to boost economic growth, as stated by Economy Minister Gevorg Papoyan during the final press conference on January 13.  In particular, he noted that the mine's full operational cycle would result in an annual GDP growth increase of 1%. The  economy will receive $120 million in taxes alone every year, numerous  jobs will be created, and communities bordering the deposit will  receive subsidies, etc. he said.  Additionally, the Minister of Economy  noted that GDP growth is expected to be around 5.5% by the end of  2025.  

ArmInfo. There are numerous risks associated with Armenia's exit from the Eurasian Economic Union (EAEU), as stated by RA Finance Minister Vahe Hovhannisyan during a briefing in parliament on January 13.  "Many different risks are being calculated, including those connected with this. All risks are  assessed and considered," he said.

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ArmInfo.  The feasibility study of the "Dry Port" program in Gyumri indicates that with the launch of the government's "Crossroads of Peace" project and the achievement of peace in the region, the "Dry Port" is quite urgent,  as stated by Gevorg Papoyan, the Minister of Economy, during a  year-end press conference on January 13.

ArmInfo. By the end of 2024, the Armenian economy is projected to grow by 5%. This was stated by RA Finance Minister Vahe Hovhannisyan in parliament on January 13.

ArmInfo. The World Bank, through the International Bank for Reconstruction and Development, will provide Armenia with a $40 million loan to support the Enabling the Energy Transition project, which will facilitate the  implementation of the country's Energy Sector Development Strategy  until 2040. The Committee on Financial, Credit and Budgetary Affairs  of the National Assembly of the Republic of Armenia approved the  corresponding agreement with the IBRD at a meeting on January 13.

ArmInfo. Chairman of the State Revenue Committee of the Republic of Armenia Eduard Hakobyan received the Ambassador Extraordinary and Plenipotentiary of the United States of America to the Republic of Armenia Kristina Kvien on January 13.

ArmInfo. Armenian Finance Minister Vahe Hovhannisyan does not consider the criticism that the country's financial authorities have failed the country's economic policy to be justified.

ArmInfo. All non-public funds in Armenia will be subject to the requirements of the Central Bank. At its meeting on January 13, the Committee on Financial,  Credit and Budgetary Affairs of the National Assembly of the Republic  of Armenia issued a positive opinion on the amendments to the Law on  Investment Funds and a package of related laws submitted by the  Government of the Republic of Armenia in the second reading. As  Deputy Chairman of the Central Bank of the Republic of Armenia  Hovhannes Khachatryan noted in his speech, the law on investment  funds was adopted several years ago, in which the regulation of  issues related to non-public funds was presented very superficially.  Nevertheless, the previously adopted law played a positive role.  Currently, there are 56 active non-public funds in the republic with  a total asset volume of 135 billion drams. In this regard, there was  a need to streamline their activities.

ArmInfo. How much would Armenia's economic growth have been if there were no two factors contributing to growth, namely, the export/re-export of goods and the increase in demand due to the influx of forcibly deported citizens of Artsakh? This question was asked by Artur Khachatryan, a member of the opposition Hayastan faction, to Finance Minister Vahe Hovhannisyan  during the presentation of the budget execution for January-September  2024 at the NA meeting on financial, budgetary and credit issues on  January 13.

ArmInfo. The trade turnover  volume between Iran and the member countries of the Eurasian Economic Union (EAEU) from the start of the current Iranian calendar year (March 21, 2024) until December reached $ 2.704 billion.  Faroud Asgari, the head of Iranian Customs Administration, presented a  detailed report on the country's foreign economic activity with the  member states of the EAEU in an interview with IRNA. He noted that  Iran's exports to these countries totaled approximately $ 1 billion  494 million 839 thousand, showing a 20.79% increase  compared to the  same period last year.  According to Asgari, the weight of exported  goods during the specified period amounted to 3 billion 857 million  kilograms, reflecting a 21.69% increase compared to last year. The  head of customs noted that the largest share of Iran's exports  belongs to the Russian Federation, Armenia and Kazakhstan.

ArmInfo.January 7 to 10, 2025, in Armenia's foreign exchange market, only one  USD transaction was effected, with no ruble or euro transactions taking place.  USD transactions showed a 64% decline against a 31% growth in the last week of December 2024.  During the period under review against the  previous week (07-10.01.25 compared to 23-27.12.24) USD and RUB  purchases and selling  showed a decline, with EUR  purchases  showing  a growth, with EUR sales showing a decline. January 7 to 10, 2025,  saw AMD depreciation against the USD - AMD 396.8 to AMD 398/$1, AMD  devaluation against the RUB - from AMD 3.83 to AMD 3.89 /1 ruble,  with an AMD devaluation trend toward the EUR - from AMD 416 to AMD  412.8/1 EUR.  On January 10, 2023, the AMD/USD exchange rate was AMD  406.3/$1, AMD/EUR exchange rate - AMD 443.5/1 EUR, and AMD/RUB - AMD  4.50/1 RUB, which is evidence of y/y AMD appreciation against the  USD, EUR, and RUB. According to the Central Bank of the Republic of  Armenia, $2 million transactions were effected at an average exchange  rate of AMD 398.50 /$1 (against AMD 396.63/$1 the previous week). 

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