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Economy

Armenia PM: We have set task to build new nuclear plant

At Thursday's Cabinet meeting, the Armenian government made a change in one of its decisions whereby, according to Khachatur Khachikyan, the First Deputy Chairman of the Committee on Nuclear Safety Regulation of Armenia, it is planned to make the specialists of the nuclear safety department, the radiation safety department, and the technical division of the Committee from the civil service to specialists performing civil work, news.am informs.

Deposit portfolio in Armenian banking system has reached record high – Pashinyan

Armenian Prime Minister Nikol Pashinyan has visited the Central Bank to participate in a New Year and Christmas reception.

Russia discussing with Tehran, Baku possibility of supplying electricity via Azerbaijan to Armenia, then to Iran

Russian Energy Minister Nikolai Shulginov announced that the Kremlin is negotiating with Tehran and Baku on the possibility of exporting 300 MW of electricity through Azerbaijan to Armenia and then to Iran, using the existing infrastructure, News.am informs, citing Prime news agency.

Russian Prime Minister due in Armenia for Eurasian Intergovernmental Council session

Russian Prime Minister Mikhail Mishustin will visit Armenia on August 24-25 to participate in the Eurasian Intergovernmental Council session, the Russian government announced Wednesday.

Cash problem arisen in Artsakh

Since Artsakh has been under blockade by Azerbaijan ever since December 12, 2022, and humanitarian cargo transportation to Artsakh has been completely stopped ever since June 15 of this year, a cash problem has arisen in Artsakh, Artsakh Republic Ministry of Finance and Economy informed.

Acquisition of hygiene items become a serious problem in Artsakh

Due to the complete blockade, the acquisition of hygiene items has also become a serious problem in Artsakh.

Artsakh Agriculture Minister: Scheduled power outages, lack of diesel fuel also cause problems in irrigation system

In the post-war period, the state made a lot of investments in Artsakh’s irrigation systems, which enabled to triple the irrigated areas, the goal of which was to solve the food security issue, Artsakh Republic Minister of Agriculture Georgi Hayriyan said.

Due to the blockade some agricultural branches left without attention. Minister

The agricultural year began with a drought, which had a negative impact on autumn crops.

Due to the lack of fuel, it is a problem to deliver local agricultural products to the residents. Georgi Hayriyan

The Ministry of Agriculture of the Artsakh Republic, tries by all means to stand by the villagers in the production of daily bread and agricultural products, but this work is becoming more and more difficult.

Impossible to import some agricultural products. Minister of Agriculture

Until June 15, there had been an opportunity to import certain agricultural products and seeds through the mediation of Russian peacekeepers, but then this process has become impossible until today.

Government of Armenia to provide additional 2,9 billion AMD to Artsakh to help mitigate social tension

The Armenian government will provide an additional 2,9 billion drams to Artsakh Republic in the form of an “interstate loan” to help mitigate the social tension.

Armenian exports, re-exports to Russia grow 187%

Exports from Armenia to Russia grew 187% in 2022, with most of the figure comprising re-exports, Finance Minister of Armenia Vahe Hovhannisyan said Monday.

World Bank forecasts 4.4% economic growth for Armenia in 2023

Global growth has slowed sharply and the risk of financial stress in emerging market and developing economies (EMDEs) is intensifying amid elevated global interest rates, according to the World Bank’s latest Global Economic Prospects report.

Artsakh State Minister held consultation on energy and security issues

On June 5, Artsakh State Minister Gurgen Nersisyan held consultation on energy and security issues.

Due to the ongoing blockade, the decline in the GDP growth comprises more than 32%

The Gross Domestic Product (GDP) of the Artsakh Republic in January-March 2023, as compared to the previous year comprised 67.9%. The decline in the economy in real terms was 32.1%.

World oil prices dropping

World oil prices are falling Wednesday morning, and trading data attest to this, news.am informs.

Dollar, euro drop in Armenia

The American dollar’s (USD) exchange rate against the Armenian dram (AMD) comprised AMD 386.35/$1 in Armenia on Friday; this is down by AMD 0.96 from Thursday in the country, according to the official website of the Central Bank of Armenia, news.am informs.

World oil prices on the rise

World oil prices are going up Friday morning, and trading data attest to this.

The use of solar energy will make it possible to alleviate the energy crisis in the republic. Experts

In the Republic of Artsakh, it is possible to alleviate the energy crisis to a certain extent by using solar energy; and in the long term, the demand can be fully ensured.

Armenian Deputy PM meets with United States Deputy Secretary of the Treasury in Washington D.C.

Deputy Prime Minister Mher Grigoryan has met with United States Deputy Secretary of the Treasury Wally Adeyemo in Washington D.C.

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