ArmInfo.

ArmInfo.Armenia's GDP slowed down y-o-y growth in the first quarter of 2020 from 7.1% to 3.8%, amounting to 1.3 trillion AMD ($ 2.6 billion). The GDP deflator index  in the first quarter of 2020 decreased to 98% from 103.8% in the first quarter of 2019. This is evidenced by the data of the Statistical Committee of the Republic of Armenia.

ArmInfo. High liquidity and capital adequacy in the financial system of Armenia allow to withstand shocks.

ArmInfo.

ArmInfo. The Armenian government is considering ways to assist workers in the restaurant sector. On May 27, RA Deputy Prime Minister Mher Grigoryan stated this from a parliamentary rostrum, referring to the situation in this area when  restaurant complexes cannot resume their work due to the risks of the  spread of coronavirus.

ArmInfo.The Armenian government  is taking the necessary steps to support the tourism sector in the  coronavirus conditions. On May 27, Minister of Economy of the  Republic of Armenia Tigran Khachatryan stated this from the rostrum  of the National Assembly of the Republic of Armenia.

ArmInfo. In Armenia, prices for precious metals have accelerated the growth rate - from 2.6% last week to 6.2% this week. Moreover, a significant acceleration in price  growth was observed for platinum and palladium, relatively moderate  for silver, against which the cost of gold remained almost unchanged.

ArmInfo.

ArmInfo.As of May 1, 2020, if you are still a student and you have got a student loan at IDBank, then the annual loan interest rate will be reduced for you.

ArmInfo.The application of new property tax rates in Armenia will increase revenues to the budgets of local governments 4.3-fold, Minister of Finance of the Republic of  Armenia Atom Janjughazyan, announced this on May 27 introducing  amendments to the Tax Code.

ArmInfo. The Armenian government at its May 27 meeting approved the 19th program of measures to neutralize the economic consequences of COVID-19.

ArmInfo. Beeline announces the launch of a service for building a local network for corporate clients, installing server and network equipment and connections,  which will be available when connecting to the Corporate Internet or  Corporate VPN services.

ArmInfo.

ArmInfo. Toyota Motor Company began deliveries of Toyota cars of Russian assembly to Armenia. It is reported by Izvestia with reference to the press service of the  company.

ArmInfo. For the first time in Armenia, the number of non-cash card transactions exceeded the number of cash card transactions. According to the results of the first quarter of 2020, in quantitative terms, the share of non-cash card  transactions amounted to 57% of the total number of card  transactions, and the share of cash card transactions was 43%. The  Executive Director of the Union of Banks of Armenia (UBA) Seyran  Sargsyan said this on May 26 during a press conference.

ArmInfo. Risks in the banking system of Armenia today associated with the uncertainty of the situation with the coronavirus pandemic are manageable even in the worst-case development scenario. This opinion was held May 26 during  an online press conference, answering a question from ArmInfo,  expressed by Executive Director of the Union of Banks of Armenia  (UBA) Seyran Sargsyan.

ArmInfo. The current situation with coronavirus affected the income of individuals and legal entities, which, of course, could not but affect the lending process.  In response to a question from ArmInfo, this during an online press  conference on May 26, said Executive Director of the Union of Banks  of Armenia (UBA) Seyran Sargsyan.

ArmInfo.n. The last month of the first quarter of 2020 coincided with the beginning of the implementation of measures to prevent the spread of coronavirus, which could not but affect the indicators of the banking system of  Armenia, development trends, and the economy as a whole.  

ArmInfo.

ArmInfo.