ArmInfo.

ArmInfo. More than 90% of companies in Armenia have not succeeded in digitalization. This was stated on May 4 by Minister of Economy of Armenia Vahan Kerobyan  during the international conference entitled: "New business  opportunities within the framework of the EAEU: localization through  cooperation, tools, financing and support" in the "Russian Book  House" in Yerevan.

ArmInfo. Italian entrepreneurs are showing investment interest in the Armenian market. According to the official report of the Ministry of Economy, the head of the  Armenian economic department Vahan Kerobyan held a meeting with  representatives of a number of Italian companies that intend to  implement investment projects in Armenia in various sectors of the  economy.  

ArmInfo. The total profit of insurance companies (ICs) of Armenia for Q1 2022 exceeded 1.2 billion drams (over $2.5 million), with a 4-4.4-fold climb in terms of y-o-y  and quarterly  (against a 2.2-2.5-fold decline in the comparable  periods of 2021).

ArmInfo.The European Union constantly shares the challenges facing Armenia and is ready to continue to assist the government of the country. EU Ambassador  Extraordinary and Plenipotentiary to Armenia Andrea Wiktorin stated  this during a meeting with Armenian Finance Minister Tigran  Khachatryan.

ArmInfo.

ArmInfo.IDBank and Idram sum up the next program of "The Power of One Dram" initiative: the entire amount of "one drams" collected during March-April of this year was donated to "My Forest Armeniaenvironmental non-governmental organization.

ArmInfo.The ruling faction of the Armenian parliament proposes amendments to the RA Civil Code, according to which only open joint-stock companies representing the  public interest will present financial statements.

ArmInfo.The composition of Armenia's exports may change. Head of the Central Bank of Armenia Martin Galstyan expressed this opinion during a press conference on  May 3.

ArmInfo. In Armenia, the absorptive capacity of the economy has increased. Referring to the assessment of bank credit specialists, on May 3, during a press  conference, Head of the Central Bank of the Republic of Armenia  Martin Galstyan stated. He explained that Armenian banks, judging by  the easing of lending conditions in the fourth quarter, somewhat  increased their appetite for risk, and this, in turn, suggests an  acceleration in lending growth in subsequent quarters.

ArmInfo.There is still high uncertainty in terms of macroeconomic prospects due to geopolitical developments. At the same time, the risks of inflation deviating from  the projected vector are generally balanced, but in the event of  their sharper direction, the Central Bank will react properly to  ensure price stability.

ArmInfo. The USD-denominated bonds issued by ARARATBANK Open Joint Stock Company on April 21 have been fully underwritten.

ArmInfo. One of the leading telecommunications companies Team Telecom Armenia has officially completed its rebranding process, which began with the acquisition of  100% of the shares of Veon Armenia. Henceforth, the company moves to  the stage of active implementation of its strategic programs. On May  3 during the opening of the head service center of Team Telecom  Armenia on Northern Avenue, General Director of the company Hayk  Yesayan said.

ArmInfo. At its meeting today, the Board of the Central Bank of Armenia (CBA) decided to leave the refinancing rate unchanged, at 9.25%.

ArmInfo.The RA State Revenue Committee reports AMD 231.3bln tax revenues in April 2022 - AMD 31bln (15.5%) more than the budgeted revenue and AMD 51.2bln (28.4%) more as compared with last April. 

ArmInfo.ince May 1, FLYONE ARMENIA has launched regular flights in the Yerevan-Tbilisi-Yerevan direction.

ArmInfo. The Small and Medium Enterprise Development Council decided to form a working group with the involvement of all interested parties to develop draft laws to  solve existing problems in the field of SMEs, which will be submitted  to the government for consideration. This was reported by the press  service of the Ministry of Economy, referring to the results of the  meeting of the Council.

ArmInfo.

ArmInfo. A stable financial rate does not yet mean stability, it is a limitation of the potential for economic growth.

ArmInfo.