ArmInfo.

ArmInfo. The ban on the import of Turkish goods to Armenia for Turkey, even if it is a "drop in the bucket", will still have an impact. Economist, former mayor of  Yerevan Vahagn Khachatryan said this at a press conference on October  28. The expert conditioned his opinion on the existing difficulties  of the Turkish economy.

ArmInfo.

ArmInfo.

ArmInfo. There is a slight decrease in deposits in the banking system of Armenia. This was announced on October 27 during a press conference by the Chairman of  the Central Bank of the Republic of Armenia Martin Galstyan, noting  that the share of reduced deposits in the structure of deposits is  scanty - about 1%.

ArmInfo.

ArmInfo.The Central Bank of Armenia did not make interventions (since May 2020 - ed. note). Chairman of the Central Bank of Armenia Martin Galstyan stated this  at a press conference on October 27.

ArmInfo.. The Central Bank of the Republic of Armenia for 2020 revised its forecast for GDP growth downward. According to the September forecast, the Regulator expected  the economy to decline at the level of 6.2% by the end of 2020,  however, at the press conference on September 27, the Chairman of the  Central Bank of Armenia Martin Galstyan noted that Armenia would end  this year with a decline in GDP by 7.2%.

ArmInfo.. At a plenary session on October 27, the Armenian Parliament ratified a draft  letter of agreement with the German bank KfW on the postponement of  the payment of tranches on a loan of 50 million euros.

ArmInfo. The total net profit of insurance companies in Armenia for 9 months of 2020 jumped 3.6 times against the same period last year (against 3 times growth a  year earlier), exceeding 4 billion drams ($ 8.2 million).

ArmInfo.Japan will provide the Armenian government with a grant of about $ 3.8 million for the purchase of ambulances. The RA National Assembly at the plenary  session on October 27 ratified the corresponding Armenian-Japanese  intergovernmental agreement.

ArmInfo. Armenia will attract $ 17.9 million from the International Bank for Reconstruction and Development to implement the program of social investments and  local development. At a plenary session on October 27, the Armenian  parliament ratified the corresponding agreement with the Bank.

ArmInfo.The timing of the start of payments of tranches on the loan from the German KfW bank attracted by Armenia will be extended until December 30, 2022. The  National Assembly of Armenia at the October 27 session ratified the  letter of agreement with the Bank.  

ArmInfo.

ArmInfo.

ArmInfo.IDBank together with “Universal payment technologies” (“UPT” LLC) announces the launch of IDpay initiative.

ArmInfo. The Central Bank of Armenia has kept the refinancing rate at 4.25%. As ArmInfo was told in the press service of the Central Bank of Armenia, this decision  was made on October 27 at a meeting of the Central Bank Council.

ArmInfo. A more impressive decline in imports than exports reduced the foreign trade deficit of Armenia in January-September 2020 by 23.6% per annum (against an  increase of 0.5% a year earlier against the background of an increase  in exports and imports).

ArmInfo.. The US Department of Commerce has decided to launch a new anti-dumping investigation into the supply of aluminum foil from a number of countries, due to  issues related to the competitive nature of the supply.

ArmInfo. In Armenia, economic activity in January-September 2020 deepened even more into recession - up to 6.6%, against the background of rapidly decreasing volumes of  exports and imports.