ArmInfo. Armenia is heavily reliant on foreign financial markets, particularly the Russian ruble market. Under these conditions, experience shows that a sharp devaluation of the Russian ruble can have a negative impact on our economy. Aghasi Tavadyan, the expert of the research center and founder of the analytical portal tvyal.com, shared these insights on his social network.

ArmInfo. Minister of Territorial Administration and Infrastructure of Armenia David Khudatyan received the head of the Armenian resident office of the European Bank for Reconstruction and Development (EBRD), Giorgi Akhalkatsi.

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ArmInfo.Chairman of the  Central Electoral Commission of Armenia Vahagn Hovakimyan and Head of  the CEC External Relations Department Hermine Harutyunyan took part  in a seminar in Tirana on the topic of "Artificial Intelligence for  Electoral Actors".

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ArmInfo.Converse Bank has become an official signatory of the UN Principles for Responsible Banking – a single framework for a sustainable banking industry developed through a collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI). 

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ArmInfo. Armenian Minister  of Economy Gevorg Papoyan met with members of the Council and  representatives of the business community of the American Chamber of  Commerce in Armenia (AmCham).

ArmInfo. The year turned out  to be quite good in terms of tourism. There was no quick recovery in tourist flow, as last year, but we are seeing qualitative changes.   This was announced by the Minister of Economy of Armenia Gevorg  Papoyan on December 6 during an event dedicated to the results of  2024 in the sphere of tourism in Armenia. In this regard, he noted  that the geography of tourist destinations has changed significantly. 

ArmInfo. "In 2025, we will  continue to support festivals in Armenia, but my list of priorities  includes improving the quality of tourism services in the country's  regions," Lusine Gevorgyan, Chairperson of the Tourism Committee of  Armenia, stated in an interview with journalists on December 6 on the  sidelines of an event dedicated to the results of the tourism  industry in Armenia in the outgoing year.

ArmInfo.  December 2 to 6, 2024,  in Armenia's interbank foreign exchange market, one USD and three RUB  transactions were effected, except for Wednesday and Thursday, with  no EUR transactions effected for over a month. USD transactions  showed a 53% growth against a 46.3% decline. RUB transactions showed  a 2.6-fold growth against a 60.5% decline. The total amount of RUB  transactions insignificantly exceeded that of USD transactions.

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ArmInfo. In the coming years, the impact of the mining industry on the Armenian economy is expected to be positive. This is not only due to the functioning of ZMMC, but also because of external factors at play. This was stated by Armen Stepanyan, CSO (chief sustainability officer) of Zangezur Copper and Molybdenum Combine (ZMMC) on December 6 during a meeting with journalists on the publication of the third report on sustainable development.

ArmInfo. From January to October 2024, the annual growth of the service sector in Armenia slowed down from 12.1% to 5.8%, reaching AMD 2.734 trillion ($6.9 billion). In October alone, the volume of services provided decreased by 2.5%. According to data from the RA Statistical Committee, the significant slowdown in growth rates was caused by the decline in the dynamics of the dominant sectors of transport (from 23.8% growth to 13.7% decline) and information and communication (from 44.1% growth to 8.6% decline). The slowdown was also affected by reduced growth rates in the catering sector (from 20.1% to 7.9%), education -(from 7.4% to 4.4%), and administrative and auxiliary activities (from 6.6% to 6.3%).

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ArmInfo.  Armenia's  metallurgical industry has achieved a 4% annual growth in the past 10  months (from an 8% decline a year ago). This reversal of the trend  can be attributed largely to the improved dynamics of zinc and copper  concentrate production, as well as the continued growth in steel pipe  production. This is evidenced by data from the RA Statistical  Committee.