ArmInfo. If the trends of the first half of the year regarding the non- fulfillment of budget  expenditure and revenue items continue, the execution of the 2024 state budget will be at risk, and it is possible that this will lead to budget sequestration. 

ArmInfo. The Public Services Regulatory Commission (PSRC) will allocate a radio frequency of 3600-3800 MHz for the deployment of a 5G broadband network in Armenia. As reported on the page of the Ministry of High-Tech Industry, the head of the department Mkhitar Hayrapetyan stated this in an interview with Public Television. 

ArmInfo.The Armenian economy is going through a turning point.  The latest statistics on GDP growth  revealed an alarming reality: the country's economic recovery, which has been so celebrated lately, was mainly built on unstable, exogenous factors, and economic growth was just an illusion. This assessment was made by Aghasi Tavadyan, associate professor at the Armenian State University of Economics, founder of the analytical  portal tvyal.com. 

ArmInfo. On Aug. 23, 2024, S&P Global Ratings affirmed its 'BB-/B' long- and short-term foreign and  local currency sovereign credit ratings on Armenia. The outlook on the long-term ratings is stable.

ArmInfo.

ArmInfo.

ArmInfo. The Republican Union of Employers of Armenia (RUEA) believes that if the State Revenue  Committee (SRC) is truly concerned about the problem of tax collection and increasing tax discipline, it should simply abandon the initiative to abolish incentive norms and establish stricter criminal liability for tax violations, since its adoption, in addition to other destructive consequences for the country's economy, will directly aggravate the problem of tax evasion.

ArmInfo. Since 2022, Armenia's IT sector has experienced significant growth, largely attributed to  an inflow of re-locants from Russia. During this period, the sector has become a key contributor to GDP growth, accounting for 1-3 percentage points. But recent data from the last two quarters show a concerning picture, indicating that currently the sector is encountering serious problems.  

ArmInfo.The Idram Junior app just got even more exciting: now you can play a financial literacy game directly within the app. Moreover, through this game, you can prepare for the financial education competition Junius, organized by the financial app Idram Junior and the educational program Koreez.

ArmInfo.Premiums in Armenia's insurance market have began to decrease while indemnities are still  increasing at double-digit rates. This trend is starting to impact the companies' profits.  (As ArmInfo analysts note, the transition of insurance companies' financial statements to a new format each time conceals more and more important indicators, making it difficult to analyze the state of the market.  

ArmInfo. The World Congress of Innovation and Technology 2024 (WCIT) will be held in Yerevan on  October 4-7. This was reported by the Ministry of High-Tech Industry of the Republic of Armenia.

ArmInfo.The Office of Coordination of Inspection Bodies under the Office of the Prime Minister of Armenia is initiating amendments to the Law and related laws that will allow abandoning the practice of notifying businesses of upcoming inspections. 

ArmInfo. On August 23, Chairman of the State Revenue Committee of the Republic of Armenia  Rustam Badasyan presented the Executive Director of the Barsis company with a Type I certificate on inclusion in the register of authorized economic operators of the Eurasian Economic Union. 

ArmInfo. The arrest of a businessman for tax evasion brings more harm to the state than good.  This point of view was expressed on a social network by the co-founder and head of the Union of Entrepreneurs  Vahram Mirakyan, once again touching upon the draft law proposed by  the State Revenue Committee of the Republic of Armenia to abolish incentive norms and establish stricter criminal liability for tax violations. 

ArmInfo. Accor, a world leading hospitality group, today announces the signing of an agreement with 4A Capital LLC to open a new Movenpick hotel in Armenia.  Located in Tsaghkadzor, the country's most popular ski and resort town, the 198-room newly constructed hotel, Movenpick Resort Tsaghkadzor, is expected to open in 2026.

ArmInfo. The Armenian Ministry of Economy has not received any notification from its Russian colleagues  regarding the poor quality of Armenian cognac or any complaints from cognac producers about facing difficulties in exporting products to the Russian Federation.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo. The development of renewable energy has reduced Armenia's dependence on imported  hydrocarbon raw materials. As a result, in 2023, the republic imported 100 million cubic meters less natural gas than in 2022. Deputy Minister of Territorial Administration and Infrastructure of the Republic of Armenia Hakob Vardanyan told the Public Television of Armenia about this.