ArmInfo. Recovery of economic dynamics has been outlined in Armenia, Acting Prime Minister of Armenia Nikol Pashinyan said on May 6 at a government meeting.

ArmInfo.The volume of freight traffic in Armenia in the first quarter of 2021 accelerated the annual growth from 2.6% to 9.1%, amounting to 3,193 thousand tons.

ArmInfo. Minister of Economy of Armenia Vahan Kerobyan again promised to reach a double-digit indicator of economic growth by the end of the year. He stated this  on May 5 from the rostrum of the RA National Assembly, answering the  questions of parliamentarians.

ArmInfo.The metallurgical industry of Armenia in the first quarter of 2021 slowed down the y-o-y growth from 30% to 4.1%. This is evidenced by the data of the  RA Statistical Committee. In particular, the production of  ferromolybdenum in the first quarter of 2021 compared to the same  period last year decreased by 18.4% (against 22.5% growth a year  earlier), amounting to 1.702 thousand tons. In March alone, 605.7  tons of ferromolybdenum were produced, which is 1.7% more than in  February.

ArmInfo. Aluminum foil production in Q1 2021 decreased by 2.6% per annum (against 16.8% growth a year earlier), amounting to 8.656 thousand tons. This is evidenced by the  data of the RA Statistical Committee.

ArmInfo. In the consumer market of Armenia in January-April 2021, inflation was recorded at 5.1%, against 2.6% inflation in the same period in 2020. According to the RA Statistical Committee, this was provoked by an increase in the  prices of food products (including alcohol and cigarettes) by 8.6%  (versus 5.7% a year earlier), non-food products - by 5%  (versus 0.1% a year earlier) and tariffs for services - by 1.1%  (against 0.3% a year earlier).

ArmInfo. In Armenia, economic activity in the 1st quarter of 2021 compared to the same period of 2020 decreased by 2% (against 4% growth in the 1st quarter of 2020).   According to the final data of the Statistical Committee of the  Republic of Armenia, only the construction sector and the energy  complex were in growth, while the industrial sector, agricultural  sector, trade, and the service sector are still overdrawn.

ArmInfo. In the first quarter of 2021 electricity generation in Armenia amounted to 2,112.9 million kWh, with a slowdown in y-o-y growth from 14.8% to 1.4%. But in March  alone, an increase of 16% was recorded - up to 736.1 million kWh.  This is evidenced by the data of the RA Statistical Committee.

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ArmInfo. Industrial sector of Armenia in the first quarter of 2021 reduced production by 3.9% per annum (against 8.7% growth a year earlier), amounting to 470.4  billion drams ($ 897.5 million). But in March alone, the volume  increased by 9.1% - to 175.2 billion drams ($ 332.1 million).

ArmInfo.The rise in the growth of the net inflow of transfers from individuals to Armenia in the first quarter of 2021 is supported by the high growth rates of the net  inflow of remittances from the United States - 2.6-fold to $ 74  million (against 5-fold growth a year earlier).

ArmInfo. MP from the Prosperous Armenia faction Mikael Melkumyan considers the proposal of the leader of the party Gagik Tsarukyan to "nullify" citizens' loans in the  amount of up to AMD 3 million as appropriate and topical. "The  proposal passed an expert discussion at the highest level, and the  comment of the head of the Central Bank, perhaps, confirms that it is  justified," Melkumyan said on May 5 in an interview with reporters.

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ArmInfo. The net inflow of private transfers to Armenia increased by 47.7% per annum in the first quarter of 2021. Head of the Department of Macroeconomics of  the Central Bank of Armenia Armen Nurbekyan said this at a press  conference on May 4, noting that in March alone, the net inflow of  transfers increased more than 2-fold.

ArmInfo.In the loan portfolio of the banking system of Armenia, the share of non-performing loans in the first quarter of 2021 reached 7.1%. The Chairman of the Central  Bank of the Republic of Armenia Martin Galstyan stated this at a  press conference on May 4, noting that in comparison with the  previous quarter, an increase in non-performing loans was recorded.

ArmInfo. The Central Bank of Armenia is confident that inflation will return to its target  indicator next year. The Chairman of the Central Bank of Armenia  Martin Galstyan expressed this opinion during a press conference on  May 4.

ArmInfo. Taking into account the current macroeconomic situation and the inflationary impact expected from the external and internal economies, the Council of the Central  Bank of Armenia considers it necessary to gradually neutralize the  stimulating effect of monetary conditions.

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ArmInfo. On May 4, the Armenian Parliament discussed in the first reading the draft law "On Amendments and Addenda to the" Tax Code "of the Republic of Armenia,  which provides for reducing the timeframe for refunding value added  tax (VAT) to exporters from three months to one.