ArmInfo. The Central Bank of  Armenia slightly improved its forecast for 2020 for a decline in the  inflow of private transfers to 19-22% from the previously expected  22- 25%. This is set out in the Central Bank's Monetary Policy  Program for the Q3 of 2020, published on August 30, where the  forecast for Armenia's GDP for 2020 was revised towards a larger  decline by 6.2%, against the previously predicted 4% decline. The  Central Bank causes a slight improvement in the outlook for  individual remittances by a significantly lower than expected decline  in their volume in the second quarter.

ArmInfo. According to the new  forecast of the Central Bank of Armenia, the unemployment rate in  2020 will increase to 20.2% (from the actual 18.9% in 2019). In 2021,  with a reduction in measures to eliminate the consequences on the  economy from the coronavirus pandemic, the unemployment rate will  rise to 21.2%. In the medium term, in parallel with the economic  recovery, this indicator will decrease annually by 0.5 percentage  points - to 20% (against the previously expected 19.6%). This  forecast is given in the Monetary Policy Program of the Central Bank  for the III quarter of 2020, published on September 30, where it was  noted that the forecast for GDP for 2020 deteriorated to a larger  decline of 6.2% from the previously expected 4%.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.The holding of the EAEU Intergovernmental Council on October 9 in Yerevan remains in force, but the format is still being worked out. On September 28,   assistant to the chairman of the Board of the Eurasian Economic  Commission Iya Malkina announced this on her Facebook page.

ArmInfo.The Central Bank of Armenia provides bank details for donating funds to the All-Armenian Fund. Information about this is posted on the website of the Central  Bank of the RA.

ArmInfo.

ArmInfo.

ArmInfo.The volume of  dollar transactions in the foreign exchange interbank of Armenia from  September 22 to September 25, 2020, decreased by 34.8%, after growing  by 55.6% in the previous week (September 14-18). At the same time, in  the intrabank foreign exchange market during the reporting week,  dollar-denominated transactions went into decline, in euro  transactions, purchases fell into recession amid a slowdown in sales  growth, and in ruble transactions, the growth in purchases slowed  down while sales entered growth. The exchange currency platform  continues to be idle. As a result, from September 22 to 25, the dram  continued to revaluate against the dollar - from 485.5 to 485 AMD / $  1, maintaining the same trend towards the euro - from 575.5 to 565.5  AMD / 1 EUR, while intending to revalue against the ruble - from 6.5  to 6.3 AMD/ 1 RUB. A year earlier, as of September 25, 2019, the AMD  exchange rate against the dollar was 476 AMD / $ 1, against the euro  - 523 AMD / 1 EUR, and against the ruble - 7.5 AMD / 1 RUB, which, in  comparison with the current exchange rates, indicates the y-o-y  devaluation of the AMD against the dollar and euro, in case of  revaluation against the ruble.

ArmInfo.

ArmInfo. ARARATBANK announced rebranding, marking the beginning of a new historical stage, for the bank itself, in particular, and the entire banking  system of Armenia in general. Symbolically, the event was organized  at the height of 2851 meters above sea level, on the top of Mount  Teghenis, which offers an incredible view of the biblical Mount  Ararat, Lake Sevan, Mount Arai Ler, Geghama Range and 4 peaks of  Mount Aragats.

ArmInfo.

ArmInfo.

ArmInfo. By order of the head of the Food Safety Inspection Body of Armenia, during the last two weeks of September, state control actions were carried out on the  alcoholic beverages market.

ArmInfo. Despite the significant stress associated with the coronavirus, Armenia's banking system has shown itself to be stable. Chairman of the Board of  Directors of ARARATBANK Grigor Hovhannisyan, Chairman of the Bank's  Council, expressed a similar opinion to journalists at the event  dedicated to the rebranding of ARARATBANK on September 24.

ArmInfo. A more impressive decline in imports compared to exports reduced Armenia's foreign trade deficit in January-August 2020 by 18% per annum. At the same  time, in August 2020 alone, the growth of this indicator accelerated  to 13% from 7% in July, against the background of a more accelerated  growth of imports than exports. And in August 2020, compared to  August 2019, the foreign trade deficit decreased by 5% as a result of  an almost equal decline in exports and imports.

ArmInfo.

ArmInfo.. In Armenia, economic activity in January-August 2020 deepened into recession even more - to 6.4%, against the backdrop of rapidly declining volumes of exports  and imports. In August of this year against August 2019, economic  activity decreased by 9.8%, and in August 2020 alone it slowed growth  to 7.4% from 9.7% in July. A year earlier, in January-August 2019,  against the same period of 2018, economic activity increased by 7%,  in August compared to August 2018 - by 7.6%, and in August 2019 alone  - by 7.2%.

ArmInfo. The Central Bank of Armenia opposes the limitation of the upper threshold of credit interest rates of credit companies, seeing this as an undermining of  market mechanisms and a threat to the stability of the financial  system. Central Bank Deputy Chairman Nerses Yeritsyan stated this in  his speech at the parliamentary hearings on "Application of fines and  penalties on overdue loan obligations, interest rates on loans,  amnesty and other credit problems in the banking system of Armenia".