ArmInfo.The Armenian government will provide benefits to GNC Alfa (a subsidiary of Rostelecom). The draft decision "On the approval and promotion of the investment  program presented by GNC-Alfa CJSC within the framework of the  "Infrastructure in exchange for investment" measure was approved on  August 3 at a meeting of the Cabinet.

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ArmInfo. Armenia's Minister of Territorial Administration Gnel Sanosyan, who is on a visit to China,  held a meeting with Li Xiaopeng.

ArmInfo.Communications with India are still not established, logistics is not easy, although the  potential for trade between the countries is quite high. Minister of Economy of Armenia Vahan Kerobyan stated this to journalists at the end of a press conference on the Science and Business Days.

ArmInfo.The Central Bank of Armenia, having promptly reacted to curbing inflation, can now afford to reduce the refinancing rate for the second time. Deputy Chairman of the Central  Bank of the Republic of Armenia Armen Nurbekyan expressed this  opinion during today's press conference on the next reduction of the  refinancing rate from 10.5% to 10.25%.

ArmInfo.The share of SMEs in Armenia's GDP reached 60%.  This was stated by Minister of Economy of Armenia Vahan Kerobyan, answering a question from an ArmInfo  correspondent, on the sidelines of a press conference held within the  framework of the organization of the "Days of Science and Business"  in Armenia.

ArmInfo. The upgrade of Armenia's long-term issuer default rating in foreign currency from  <B+> to <BB-> by Fitch Ratings indicates an increase in Armenia's  investment attractiveness. RA Deputy Finance Minister Eduard Hakobyan  expressed a similar opinion in an interview with the Public  Television of Armenia.

ArmInfo. The Board of the Central Bank of Armenia (CBA) decided to reduce the refinancing rate by 0.25% - from 10.5% down to 10.25%, after two successive years of raising it  up to the historical maximum of 10.75% in late in 2022, which rate  remained unchanged until June 13, 2023. 

ArmInfo.As of this July, Armenia's gross international reserves (GIR) totaled $3.909 bln - an  annual growth from 10.8% to 13.33% or up by $458.6 mln. Thus,  Armenia's GIR has neared their historical maximum. The share of  external convertible currency assets in Armenia's GIR is $3.898bln,  that of SDR at the IMF is $8.9 mln.

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ArmInfo.Fitch Ratings has upgraded Armenia's Long-Term Foreign-Currency Issuer Default Rating  (IDR) to 'BB-' from 'B+'. The Outlook is Stable. This is stated in the message of the agency.

ArmInfo. There is practically no policy aimed at developing high value-added industries in Armenia.  This, in fact, is evidenced by the data of both the RA Statistical  Committee and the list of the largest domestic taxpayers. Doctor of  Economic Sciences, Professor Ashot Tavadyan expressed a similar point  of view in an interview with ArmInfo.

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ArmInfo.Andranik Grigoryan, the CEO of Converse Bank, addressed key topics in an interview with AmCham magazine, including customer interests, digital financial services improvement, and Converse Bank's digital team organization. Read the full interview with Andranik Grigoryan.