ArmInfo. Within export, tobacco products produced in Armenia took the second place after products of the mining industry. This is evidenced by the data of the  Center for Economic Development Initiatives, which conducted an  analysis of the production of tobacco products in 2018-2019.

ArmInfo. "ArmInfo" Information Company issued the 60th anniversary quarterly information and analytical bulletin "Ranking of Armenian Insurance Companies".

ArmInfo.The Ministry of Economy of the Republic of Armenia, in cooperation with the Center for Investment Promotion Fund, launched the subprogram "Grants for  the Development of Exporters" within the framework of the World  Bank-funded Trade Facilitation and Infrastructure Quality Program.

ArmInfo. The international FINTECH 360 conference will be held in Yerevan on April 28-30. The conference will be held with the support of the Central Bank of Armenia,  Unistream international money transfer system. At Fintech360, the  leaders of banks, money transfer systems, payment systems, IT  companies, startups and government officials will discuss how the use  of the latest technologies will help in the development and promotion  of the business.

ArmInfo.As part of his visit to Moscow, Armenian High Commissioner for Diaspora Zare  Sinanyan met with members of the Cilicia Business Club. The  Ambassador Extraordinary and Plenipotentiary of Armenia to Russia  Vardan Toganyan was also present at the meeting, the office of the  High Commissioner reports.

ArmInfo.Deputy Minister of Economy of Armenia Varos Simonyan received the head of the Yerevan office of the European Bank for Reconstruction and Development (EBRD)  Dmitry Gvindadze.

ArmInfo. International Energy Corporation (IEC) CJSC, which operates the Sevan-Hrazdan cascade of hydroelectric power stations in Armenia, intends to pledge  its shares and property in HSBC and / or in the Eurasian Development  Bank. The opportunity to pledge shares and property of the company  will be the subject of discussion at the RA Public Services  Regulatory Commission (PSRC) on February 19.

ArmInfo.The European Bank for Reconstruction  and Development (EBRD) announced the so-called allocation of Armenia  a sovereign loan of 25 million euros to create a municipal transport  company in Yerevan.

ArmInfo.

ArmInfo.Converse Bank has launched corporate and SME financing project within the framework of ConverseGreen loan. It is designated to small, medium and large entrepreneurs, individuals and entities carrying out activities in the agricultural sector and development/construction organizations.

ArmInfo. Agricultural risk insurance program in Armenia will be expanded. This was announced at a press conference in Yerevan on February 17 by head of the   Department of Agricultural Programs Elaboration, Resource Use and  Cooperative Development of the RA Ministry of Economy Ira Panosyan.

ArmInfo. The budget deficit of Armenia in January-December 2019 amounted to 63.9 billion drams ($ 133.1 million), decreasing by 39.3% year on year, against the 60.5%  decline in 2018. According to the RA Statistical Committee, the  budget revenues of Armenia accelerated the y-o-y growth rate from  8.4% to 16.3%, while expenditures unfolded from a 3.8% decline to a  12.2% increase, amounting to 1,559.1 billion and 1,623.1, billion  drams respectively.

ArmInfo.A delegation led by the RA Minister of Healthcare Arsen Torosyan is on a working visit to the Republic of Korea to participate in the event "Knowledge exchange between Armenia, Georgia and Korea on Health Insurance".

ArmInfo.On February 10-14, experts of the World Customs Organization diagnosed the work performed by the State Revenue Committee of Armenia within the  framework of the Mercator program, which started in May 2019.

ArmInfo.Outflow for 2019 transfers of individuals increased by 22.4 per annum to $ 1.455 billion, with an increase in inflows of 9.7% to $ 1.959 billion.  According to the Central Bank of Armenia, this reduced net inflows  for the year by 15.5% to $ 504 million.

ArmInfo. In January 2020, inflation in the consumer market of Armenia was 1.3%, with annual inflation of 0.2% (in January 2020 compared to January 2019), similar  to annual inflation - 1.7% for the month and 0.6% for year.

ArmInfo. Agricultural risk insurance will definitely have a positive impact on the development of the agricultural sector of Armenia and on agricultural lending.  This opinion was expressed on February 14 by Chairman of the Union of  Banks of Armenia (UBA), Chairman of the IDBank Board Mher Abrahamyan,  answering a question from ArmInfo.

ArmInfo.On February 14, as part of the Munich Security Conference, Prime Minister Nikol Pashinyan met with EU Commissioner for  for Budget and Administration  Johannes Hahn. This was reported by the press service of the  government.  

ArmInfo. The introduction of Basel III capital adequacy buffers will further strengthen the stability of the banking system of Armenia and increase the ability  to withstand any shocks in various economic situations. This opinion  was expressed by Chairman of the Union of Banks of Armenia (UBA),  Chairman of the IDBank Board, Mher Abrahamyan, answering ArmInfo's  question regarding the additional requirements for bank capital  adequacy introduced by the Central Bank (the matter concerns three  buffers to the standard - ed. note).

ArmInfo.2019 was successful not only for the banking system of Armenia, but also for the country's economy as a whole. As Mher Abrahamyan, Chairman of the  Union of Banks of Armenia (UBA), IDBank Chairman of the Board, stated  at a press conference on February 14, the economic growth recorded by  the end of the year had a very favorable effect on the main  indicators of banks and development trends.