ArmInfo. By December 2024, the industrial sector of Armenia had accelerated its annual growth rate from 2.1% to 7.6%, surpassing the volume of 2.6 trillion AMD ($6.8 billion). However, in November alone, the industry showed a  decline of 0.5% to 274.1 billion AMD ($704.8 million). This is  evidenced by data from the Statistical Committee of the Republic of  Armenia.  Such annual growth can be attributed to the increased  growth in the manufacturing industry, while the mining sector  experienced a deeper decline. 

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ArmInfo. Inflation of 1.5% was recorded in the consumer market of Armenia in January-December 2024 compared to the deflationary 0.6% in 2023. This increase was driven by a 2.2% rise in food prices and a 2.5% increase in service tariffs, while non-food prices decreased by 1.8%. In contrast, the previous year saw a more significant increase in prices across all three  categories, with 3.5%, 3% and 0.1%, respectively. This is evidenced  by data of the RA Statistical Committee, according to which the  average monthly price growth on the consumer market was 0.1% in  January- December 2024, in contrast to a 0.1% decline in 2023. In  annual terms (compared to January-December 2023), inflation decreased  to 0.3% (from 2% a year earlier). This decrease was facilitated by a  1.2% decrease in the price of food products and a 0.8% decrease in  non-food products, with a slight slowdown in the growth of tariffs  for services to 3%. 

ArmInfo. In Armenia, economic activity growth slowed down to 7.4% per annum in January-November 2024 compared to 9.4% in the same period of 2023. This is evidenced by the final data from the RA Statistical Committee, which also shows a decline in the dynamics of exports and imports.

ArmInfo. In the third quarter of 2024, the unemployment rate in Armenia was 13.3%, compared to 12% in the same period of 2023, as shown by data from the RA Statistical Committee.  During the same period, the employment rate  in the country dropped to 52.2% in 2024 from 54.4% in 2023.   Specifically, the number of employed individuals was 1.211.4 million  people, a 0.7% decrease from the previous year, while the number of  unemployed rose by 11.1% to 185.6 thousand. As of December 1, 2024,  more than 58 thousand people were seeking employment, making a 10.9%  decrease compared to the previous year.  Moreover, there were more  women, 35.1 thousand, than men, 22.9 thousand, among the job seekers.   As of December 1, 2024, the demand for labor from employers decreased  by 33.5% year-on-year - to 2,894 people, with an average of  20  people applying for each vacant position (a 33.3% increase from the  previous year).  By the reporting date, 1,080 citizens (1.9% of the  total job seekers) in Armenia had managed to find employment, a 14.1%  decrease from the previous year. Out of those employed, 683 were  women (a 5.7% annual decline), and 397 people were men (a 25.5%  annual decline). 

ArmInfo.Despite the current work schedule in Armenia, economic growth remains insignificant. Even  with the increase in the gross domestic product (GDP), the country's residents do not feel its positive impact on their lives as stated by Helen Manasaryan, the Chairperson of the Confederation of Trade Unions of Armenia, at a press conference discussing the risks of switching from an eight-hour to a seven-hour workday.

ArmInfo.Since 2018, the passenger flow from Armenia to the EU by air has increased by about  400%. Prime Minister Nikol Pashinyan shared the data.

ArmInfo. Mayler Mountain Resort plans to invest 12 billion drams in the development of a ski  resort in the village of Yegipatrush, Aparan community, Aragatsotn region of Armenia, in 2025. This was reported to the RA Minister of Economy Gevork Papoyan during his visit to the future resort.

ArmInfo.Minister of Territorial Administration and Infrastructure of the Republic of Armenia David Khudatyan received the delegation led by Carolin Geginat, Country Manager of the World Bank (WB) for Armenia

ArmInfo. Armenia's accession to the European Union (EU) is incompatible with the country's membership  in the Eurasian Economic Union (EAEU). If connections with the EAEU are severed, Armenia could face increased energy costs and reduced exports opportunities, Russian Deputy Prime Minister Alexei Overchuk  told reporters.

ArmInfo.The Russian side did not respond to our proposals sent last fall to amend several provisions of the intergovernmental agreement on telecommunications. We intend to send our proposals to them again in January, as stated by the Minister of High-Tech Industry of Armenia, Mkhitar Hayrapetyan.

ArmInfo. Armenia has used state funds not only to purchase the satellite, but also to construct  a ground station and provide training for specialists. This was stated by Mkhitar Hayrapetyan, the Minister of High-Tech Industry of Armenia, during a press conference. "In addition to this, there were no extra expenses," he noted.

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ArmInfo.As of December 25, 2024, Armenian airports served 5,251,932 passengers, which is 3%  lower than the previous year's figures. This was stated by the Minister of Territorial Administration and Infrastructure of Armenia David Khudatyan, during a press conference on January 9. 

ArmInfo. We are discussing proposals for the construction of a nuclear power plant not only from  the Russian Federation and the United States, but also from other countries, taking into account  financial and economic components, as well as possible implementation deadlines.

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ArmInfo. Armenia will receive grant funds from the European Investment Bank (EIB) for the implementation of the second energy efficiency program in Yerevan. On January 9, the government approved the draft on ratification of the relevant agreement with the EIB on an investment grant.

ArmInfo. On January 9, at its regular session, the Armenian government approved the draft law on ratification of the financial agreement between the Republic of Armenia and the European Investment Bank with a budget of 236 million euros.

ArmInfo.. In 2024, the number of citizens and guests of Armenia using the passenger services of South Caucasus Railway CJSC continued to grow. This was stated in a statement by the company's press service.

ArmInfo. A significant slowdown in the growth rate of economic activity in Armenia was expected, as stated in the analytical study conducted by the Luys Foundation. The study assesses the socio-economic situation in  Armenia for January to November 2024.