ArmInfo. Despite the shelling by the Azerbaijani armed forces in direction of the Armenian-American metallurgical plant under construction in Yeraskh (Ararat region), the project continues to be implemented. Armenian Minister of Economy Vahan Kerobyan announced to journalists on October 31 during a briefing.

ArmInfo. One of the main tasks of the Armenian government in the field of civil aviation is to remove it from the "black list" of the European Union. The Minister of Territorial Administration and Infrastructures Gnel Sanosyan stated on October 31 at the RA NA Committees hearings on the draft state budget of Armenia for 2024.

ArmInfo.In 2024, the volumes of electricity produced by renewable energy sources will account for 17% of the total volumes of electricity produced in Armenia.  This forecast was made by Chairman of the Commission for the Regulation of Public Services, Garegin Baghramyan, at parliamentary hearings on the draft state budget of the country for 2024.

ArmInfo. The weak deflationary impact from the external sector on the Armenian economy will  continue. During the press conference held on October 31, Governor of the RA Central Bank, Martin Galstyan, presented such a forecast regarding the reduction of the refinancing rate from 9.75% to 9.5%.

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ArmInfo. Work on the construction of a new Yerevan metro station will begin in 2024, RA  Minister of Finance Vahe Hovhannisyan told reporters on October 31.

ArmInfo.The Central Bank of Armenia further reduced the refinancing rate - this time by 0.25  percentage points - from 9.75% to 9.5%. This is the fourth decrease this year, after two years of increase with reaching a historical maximum of 10.75% at the end of 2022 and maintaining this level until June 13 of this year, when the first decrease of 0.25 percentage points took place. , then on August 1 there was a second decline by  the same amount, and on September 12 the decline was more noticeable - by 0.5 percentage points.

ArmInfo. It is impossible to completely get rid of the shadow economy, but minimizing its impact  on the development of Armenia is one of the primary tasks of the State Revenue Committee of the Republic of Armenia. Chairman of the State Revenue Committee Rustam Badasyan stated this on October 31 at  a hearing in the commissions of the National Assembly of the Republic of Armenia on the draft state budget of the country for 2024.

ArmInfo. The implementation of the capital expenditure program provided for by the state budget  of Armenia in 2023 will not differ much from the indicators in 2022, RA Minister of Finance Vahe Hovhannisyan stated on October 31 at a hearing on the draft state budget of Armenia Vahe Hovhannisyan, in  response to a question by MP Tadevos Avetisyan of the opposition Armenia. 

ArmInfo.Teach For Armenia is partnering with HSBC Armenia to implement the Káits Social Innovation Incubator — Armenia’s first-ever incubator dedicated to education.

ArmInfo.Governor of the Central Bank of Armenia Martin Galstyan expressed fears that the  problem of underfulfillment of budget capital expenditures will not be resolved in 2024 as well.

ArmInfo.69 IT companies that were included in the list of 1000 large taxpayers replenished the  state treasury by 59 billion drams in Jan-Sept 2023. This was reported by the press service of the Ministry of High-Technological Industry, citing data from the Modex agency.

ArmInfo.In 2023, Armenia will ensure economic growth of 7.2%; the main driver of growth will remain the service sector. Minister of Finance of Armenia Vahe Hovhannisyan stated on October at a parliamentary committee hearing on the 2024 budget. In this regard, he recalled that the draft budget for 2024 includes a growth rate of 7%.

ArmInfo.During the operational meeting of the Deputy Prime Ministers in the Government of the Russian Federation, the issue of simplifying the procedure for opening accounts in Russian banks by foreign entrepreneurs was considered.

ArmInfo. Capital expenditures in 2024 will reach 6.6% of GDP, which is 0.7% higher  than a year ago. Minister of Finance of Armenia Vahe Hovhannisyan announced on October 30 at a parliamentary committee hearing on the 2024 budget. 

ArmInfo.The budget deficit in 2024 could rise to 4.6% from 3.2% under the current draft budget  scenario. Minister of Finance of Armenia Vahe Hovhannisyan stated on October 30 at a parliamentary committee hearing on the 2024 budget.

ArmInfo.

ArmInfo. It is planned to establish an Information Systems Agency in Armenia. Governor of the  Central Bank of the Republic of Armenia Martin Galstyan announced on October 30 at a parliamentary committee hearing on the 2024 budget.

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ArmInfo. In terms of the revenue part of the 2024 budget, the RA budget will double compared  to 2018. Prime Minister of the Republic of Armenia Nikol Pashinyan stated on October 30 at a parliamentary committee hearing on the draft state budget of the Republic of Armenia.