ArmInfo.

ArmInfo. An unfavorable economic situation will lead to a decrease in the quality of the assets of the banking systems of Georgia and Armenia and a possible outflow of deposits of non-residents from Armenian banks. This was reported by IA "Finmarket", referring to a review of the international rating agency  S&P Global Ratings.

ArmInfo. A more impressive decline in imports than exports reduced the foreign trade deficit of Armenia in January-May 2020 by 18% per annum. At the same time, in May alone decline of this indicator amounted to 23.1%, against the background of high export growth with a modest increase in imports. And in May  2020, compared with May 2019, the foreign trade deficit decreased by  35.4% as a result of a significant decline in imports with a modest  drop in exports.

ArmInfo. ACBA-Credit Agricole Bank has signed a loan agreement with the European Bank for Reconstruction and Development (EBRD) for $ 20 million, which will be used to finance micro, small and medium-sized enterprises affected by COVID-2019.

ArmInfo.In Armenia, economic activity in January-May 2020 decreased by 3.9% per annum amid a deepening decline in exports and imports. In May this year versus May 2019, economic activity decreased by 12.8%, while in May 2020 alone, it demonstrated an increase of 13.3%. A year earlier, during the same  periods, economic activity recorded growth: in January-May 2019,  versus the same period of 2018, by 7.3%, the same indicator was  recorded in May 2019 compared to May 2018, and in May alone- by 8.4%.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.At an extraordinary meeting on June 24, the Armenian parliament ratified the agreement of the Republic of Armenia with the International Monetary Fund (IMF) on raising a loan of $ 280 million to fight COVID-19.

ArmInfo.Yeremyan Projects in Jermuk has opened a new breeding cattle farm, as a result of which high-quality dairy and meat products of the Yeremyan Products brand will appear on the Armenian market. According to the CEO of the  company, David Eremyan, in total, the implementation of the program  required investments in the amount of $ 7-8 million, of which $ 600  thousand accounted for state subsidies.

ArmInfo. The German Development Bank KfW, with the co- financing of the Armenian government, has blunted the implementation of the program for the  construction of the Cape reservoir and a gravity irrigation system,  the total budget of which amounted to 60 million euros.

ArmInfo

ArmInfo.

ArmInfo. The processes around Gagik Tsarukyan are part of the struggle of Nikol Pashinyan's government with the oligarchy rooted in our country over the years.  This is one of the next stages in the overall recovery of the  economy, former Chairman of the Central Bank of Armenia, economist  Bagrat Asatryan expressed a similar opinion to ArmInfo.

ArmInfo.All financial risks in Armenia are manageable.  Deputy Minister of Finance of Armenia Armen Hayrapetyan stated this on June 24 from the rostrum of the National Assembly of the Republic of Armenia submitting an agreement with the International Monetary Fund for ratification.