ArmInfo. Everything in Armenia  has changed by 180 degrees.  And this realization should lead to the  need to change the policy in terms of the country's development  prospects. Economist Vahagn Khachatryan expressed this opinion on  December 17 at an online press conference.

ArmInfo. "Due to the coronavirus, a number of international wine exhibitions have been canceled, for participation in which large funds are allocated.  However, under these conditions, we used these funds to complete the  1st stage of the vineyards-mapping program in Armenia>. Zaruhi  Muradyan, Chairperson of the Vine and Wine Foundation of Armenia, shared this opinion in an interview with ArmInfo correspondent.

ArmInfo. Military actions and territorial  losses in Nagorno-Karabakh only exacerbated the difficult situation  in the field of agriculture and ensuring food security in Armenia. An  independent expert, former Minister of Agriculture of Armenia Gagik  Petrosyan expressed this opinion at a press conference organized by  the Club of Economic Journalists. He noted that the problems of the  industry have been accumulating over the years, and the fact that the  field has faced a bad situation cannot be considered the result of  the work of the last 2-3 years.

ArmInfo.This year, the coronavirus made us see a rather interesting, but unfortunately  disappointing message about the state of the Armenian domestic wine  market.  Director of the Vine and Wine Foundation Zaruhi Muradyan  shared this opinion in an interview with ArmInfo correspondent.

ArmInfo.Armenia, amid martial law and the second wave of coronavirus with a rapid spread, will sum up 2020 with a decline in GDP in the range of 8.5-9.3%. Such a  forecast during an online press conference was given by the head of  the "Ameria" consulting company, a well-known economist Tigran  Jrbashyan, noting at the same time that a particularly large decline  will be in imports, while the decline in exports will continue.

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ArmInfo.The agenda of the government and parliament does not reflect the challenges that Armenia faces today. A similar opinion was expressed by the chairman  of the Republican Union of Employers of Armenia, economist Gagik  Makaryan during a press conference on December 16.

ArmInfo. The devaluation of  the national currency in Armenia is associated with a number of  reasons, first of all, with a decrease in export volumes, transfer  inflows, limitation of international donor programs, the inability to  leave for labor migrants and a worsening economic situation in the  country. A similar opinion was expressed by the chairman of the  Republican Union of Employers of Armenia, economist Gagik Makaryan  during a press conference on December 16. In particular, he stressed  that today the dollar in relation to the dram is about 520-530 AMD /  $, the euro has reached 630-640 AMD /EUR. He noted that the Central  Bank is now pursuing a restrictive policy, trying to keep the  exchange rate at a level acceptable to exporters and not creating  serious problems for importers. However, according to Makaryan, the  Armenian economy remains more dependent on the dollar. Artificially,  in view of the current situation, the profits of exporters are  growing, but in this regard, he stressed that the share of exports is  40% of imports. Consequently, currency devaluation can lead to higher  prices for certain imported goods.

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ArmInfo. There are no problems with the outflow of funds on the Armenian foreign exchange market. Chairman of the Central Bank of the Republic of Armenia  Martin Galstyan stated this at a press conference on December 15.

ArmInfo.In Armenia, in conditions of high economic uncertainty in the short term, there are risks of inflation deviation towards growth. The head of the RA  Central Bank Martin Galstyan said this at a press conference on  December 15, noting that the Central Bank constantly monitors the  development of events and, if necessary, is ready to react to ensure  price stability.  According to his forecasts, in the mid-term,  inflation in Armenia will not exceed 4%.

ArmInfo. In 2021, Armenia expects to receive a Stand-By loan from the International Monetary Fund (IMF) in the amount of about $ 70 million (with a probable  adjustment of this amount). The Chairman of the Central Bank of the  Republic of Armenia Martin Galstyan announced this on December 15  during a press conference.

ArmInfo.According to the estimates of the Central Bank of Armenia, the share of non-performing loans in the total loan portfolio of the banking system may reach  10%. Chairman of the RA Central Bank Martin Galstyan announced this  during a press conference on December 15.

ArmInfo.The Armenian-American economic relations will intensify in the near  future. Minister of Economy Vahan Kerobyan expressed this confidence  during the meeting with  US Ambassador to Armenia Lynne Tracy.

ArmInfo. The Irrigation System Modernization Project in Armenia is being implemented with loans from the Eurasian Development Bank (EDB) in Armenia. The  Territorial Development Fund of the RA Ministry of Territorial  Administration and Infrastructures reported.

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ArmInfo.The Central Bank of Armenia has repeatedly announced its intention to carry out interventions in the foreign exchange market. This is stated in the  message of the Central Bank of the Republic of Armenia spread on  December 15.  The report also notes that the Central Bank of Armenia  continues to monitor financial markets and, if necessary, will apply  all the tools in its arsenal, guaranteeing price stability and  financial stability.

ArmInfo. The State Revenue Committee of Armenia (SRC) hosted a meeting of the Appeals Commission of Tax and Customs Authorities, during which the complaints of  taxpayers regarding the actions or inaction of the tax or customs  authorities were considered, as a result of which, in the opinion of  the economic entities, unfair decisions were made.

ArmInfo.The Central Bank of Armenia increased the refinancing rate by 1 percentage point - from 4.25% to 5.25%. As ArmInfo was told in the press service of the  Central Bank of Armenia, this decision was made on December 15 at a  meeting of the Central Bank Council.

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