ArmInfo.

ArmInfo.On February 5, a contract signing ceremony was held at the RA Ministry of Economy with  ASCE Group OJSC, in the presence of Economy Minister Gevork Papoyan.

ArmInfo.In 2024, Armenia generated 9,381.4 million kWh of electricity, marking a 6.5% increase  compared to the previous year. According to the Statistical Committee of the Republic of Armenia, there was a 3.6%  rise  in electricity generation in December alone, reaching 926.4 million kWh.

ArmInfo. In 2024, there was a rise in the production of cognac, whiskey and beer in Armenia.  However, during the same period, the production of wine (including sparkling wine), vodka, liqueur and other alcoholic beverages saw a notable decline, as evidenced by data from the Statistical Committee  of the Republic of Armenia.

ArmInfo.

ArmInfo. Representatives of SMEs  in the jewelry industry held another protest at the government  building, leading to another meeting at the Ministry of Economy. This time, officials from the Ministry of Finance and the State Revenue Committee were also present for the discussions.  SMEs in the jewelry  industry are against increasing the turnover tax from 5% to 10%. 

ArmInfo.

ArmInfo.

ArmInfo. By the end of 2024, the share of precious metals and stones in Armenia's foreign trade  had reached 51% (27% in 2023 and 12% in 2022). In just one year, the value of transactions rose from $5.5 billion to $15.4 billion (compared to $1.7 billion in 2022). From January to December 2024,   imports and exports of precious metals and stones reached 43% and 61%, respectively, from 19% and 38% in 2023 (against 8% and 19% in 2022). This is evidenced by  data from the RA Statistical Committee.

ArmInfo.

ArmInfo. During 2024, the government returned over 392 billion drams (about $1 billion) to taxpayers through various programs, as stated by Armenian Prime  Minister Nikol Pashinyan.  ,  Pashinyan wrote on social media. 

ArmInfo.

ArmInfo. 4,451 individuals have already reported their income to the Armenian tax authority for 2024, as stated by the Chairman of the State Revenue Committee (SRC) of the Republic of Armenia, Eduard Hakobyan, in parliament on February 5. Earlier, the press service of the department told ArmInfo that around 900 thousand individuals are required to submit a declaration for the 2024 reporting year.

ArmInfo. In 2024, Armenia's metallurgical industry saw a turnaround from a 5% decline to a 1% growth. According to the data of the RA Statistical Committee, the improved dynamics were due to the production of copper concentrate, zinc concentrate, and steel pipes.  During January-December 2024, Armenia produced 301.6 thousand tons of copper concentrate, shifting  from a 5.8% decline to a 4.1% growth compared to the previous year.

ArmInfo. In Armenia, economic activity growth in January- December 2024 slowed down to 8% per annum (from 9.4% in 2023 and 14.2% in 2022), but the export and import trends did not change significantly. This is evidenced by the final data from the RA Statistical Committee.

ArmInfo. The Aviation Accidents and Serious Incidents Investigation Department of the Ministry of Territorial Administration and Infrastructure of Armenia has joined the European Civil Aviation Conference's (ECAC) initiative on the .  

ArmInfo. The Armenian authorities are imposing new high tax duties that are strangling small and medium businesses (SMEs). This statement was made by a group of SME representatives protesting at the Armenian government  building on Republic Square against the new Tax Code that took effect  on January 1 of this year.

ArmInfo.

ArmInfo. The gambling industry in Armenia may be subject to a 10% turnover tax in addition to existing taxes and duties. At its meeting on February 5, the RA National Assembly Committee on Economic Affairs issued a positive  opinion in the first reading on the amendments to the Tax Code  submitted by Hayk Sargsyan, a member of the NA from the ruling Civil  Contract faction.  According to the author of the legislative  initiative, over the past 13 years, the turnover of gambling, online  gambling, virtual gambling, lotteries, betting, and activities to  organize online betting has been growing at an alarming rate.

ArmInfo. Although the US presidential elections are already behind us, it is still impossible to make reasonable assumptions about the developments in the global economy, since there is an element of uncertainty regarding the  practical steps of the 47th President of the United States, Donald  Trump. This was stated by the head of macropolitics research at the  Amundi Investment Institute Didier Borowski at the Amundi. Investment  Forecast 2025 conference in Yerevan, presenting the global themes of  the current year and key bright spots that can help investors  overcome the existing problems.