ArmInfo. The Board of the Central Bank of Armenia, adhering to the policy of protecting individuals  from currency risks, on May 24, 2024 decided to cancel the official clarification No. 1 to Article 7 (parts 5/1 and 8/1) of the Law "On Currency Regulation and Currency Control" introduced on March 11, 2007, according to which commercial banks were also allowed to issue card loans (including credit lines and overdrafts) in foreign  currency.

ArmInfo.Some problems arose during the implementation of the first sanitary landfill construction  project in the Kotayk region of Armenia. RA Minister of Territorial Administration and Infrastructure Gnel Sanosyan stated on June 5 in the National Assembly of the Republic of Armenia during the discussions on the implementation of the country's 2023 state budget.

ArmInfo.Russia's experience in building underwater fiber-optic link may be relevant, including for  Armenia. This was stated by Alexey Ordin, Digital Attache of the Trade Mission of the Russian Federation in Armenia, during a press conference on June 5. "This is a good field for developing bilateral  technological cooperation," he said.

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ArmInfo. YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to cheap prices of the most  demanded food products. Thus, in May 2024 compared to May 2023, food products decreased in price by 1.1%, almost repeating last year's decline of 1.2%. Moreover, butter, buckwheat, pasta, flour, cereals,  cheeses, fish, sugar, and meat fell in price most noticeably. 

ArmInfo. Despite the 3.7% increase in the gross agricultural output of Armenia in the first quarter of this year  (87.3 billion drams), according to official statistics, the growth rate of industry has been low, almost stagnant, in recent years.  According to experts, such a deplorable situation in the country's agricultural sector is not accidental and is associated with serious structural economic and demographic shifts over the past 10-15 years.

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ArmInfo. As a result of the surrender of the territories of Armenia, part of the main gas  pipeline supplying the republic with Russian gas will come under the control of Azerbaijan.

ArmInfo. The EU has allocated 2.9 million euros to Armenia for the next 2 years for the implementation of the rebranding process of Armenian cognac(brandy). This was announced in Parliament by Armenian Minister of Economy Gevorg Papoyan. <The process has already been launched>, he emphasized.

ArmInfo.As of the end of May 2024, Armenia has used almost half of the quota of the Eurasian  Economic Union for duty-free import of electric vehicles. This was stated by the RA Minister of Economy Gevorg Paponyan in the National Assembly of the Republic of Armenia on June 4.

ArmInfo.The access to the Indian market is one of the directions of the "Crossroads of Peace"  project. Deputy Foreign Minister Vahan Kostanyan stated on June 4 in the National Assembly of the Republic of Armenia during discussions on the implementation of the last year's budget.

ArmInfo.The RA Ministry of Economy has developed a draft export development strategy. This was  stated by RA Minister of Economy Gevorg Papoyan on June 4 during the discussions on the report on the execution of the 2023 state budget of Armenia.

ArmInfo.The North-South Road Corridor Investment Program, which was planned to be completed within  4-5 years, spending less than $1 billion, has been implemented by 10% to date, and the amount of loans attracted by the end of May 2024 amounted to $800.7 million. At the same time, after 12 years, those responsible for the project are afraid to talk about either the timing of its completion or its final cost.

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ArmInfo.Economic indicators in the countries of the Eurasian Economic Union are growing, but in order to form common markets, including in the energy sector, qualitative changes in the nature of trade are needed. Deputy Prime Minister of Armenia Mher Grigoryan announced this on June 4 at a meeting of the Eurasian Intergovernmental Council in the Belarusian city of Nesvizh in the Minsk region of Belarus.

ArmInfo. In May of this year, Armenian taxpayers carried out 59.9 million transactions worth AMD  1,086bln. This is stated in the message of the State Revenue Committee of the Republic of Armenia.

ArmInfo. The international food exhibition Sial-2024, which is one of the world's largest export  platforms, will take place in Paris. Armenian companies will present their production at the exhibition under a single pavilion.

ArmInfo.Armenia has addressed the European Peace Foundation with a request for assistance and is  awaiting a response. The Minister of Foreign Affairs of the Republic of Armenia Ararat Mirzoyan stated this on June 4 in the National Assembly of the Republic of Armenia during discussions of the report on the implementation of the country's budget for 2023.

ArmInfo.Armenian food and non-alcoholic beverage producers will take part in the international  exhibition Foodex Saudi-2024.

ArmInfo. An online meeting of representatives of the Chambers of Commerce and Industry and the  business community of Ukraine and Armenia took place.