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Economic news

Unemployment rate drops in Armenia

07.10.2019

Unemployment rate has dropped in Armenia by 2.6% in the second quarter of 2019, compared to the same period of 2018, amounting to 17.7%, The Statistical Committee released the respective data. The number of unemployed people comprised 207.2 thousand in the second quarter of 2019, against the 236.4 thousand people in the second quarter of 2018. The unemployment rate has significantly dropped by nearly 4.2% in the second quarter compared to the...

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The Armenian government summed up the socio-economic results of September 2019

03.10.2019

The Armenian government summed up the socio-economic results of September 2019. Thus, according to information posted on the official page of the  Government of the Republic of Armenia on the Facebook social network,  in September of this year Armenia successfully placed 10-year  Eurobonds worth $ 500 million with a yield of 4.2%, which is 2.05  percentage points lower than the first issue of Eurobonds. Since September...

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Direct investment growth pace accelerates, says Armenian cenbank

01.10.2019

Direct investments in Armenia grew 2,8% in Q3 of 2019 against last year’s same period and 1,8% against Q2, totaling 696,3 million dollars, the Central Bank of Armenia said in a report. Despite the drop in direct investments in the last quarters of 2018, the pace of growth of investments started to be restored in the first two quarters of 2019. Portfolio investments in Q2 have also increased against Q2 of 2018, particularly by 52%...

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WHAT A LEGAL PERSON SHOULD KNOW WHEN IMPORTING A CAR FROM A NON EAEU COUNTRY TO ARMENIA

23.09.2019

The rates of customs duty for cars imported from a non-EAEU state to the territory of EAEU by legal entities will change starting January 1, 2020. The calculation of customs duty depends on the customs value, year of manufacture and engine swept volume of cars. The procedure is carried out according to the rate set by Decision No 54 of 16.07.2012 of the EEC board (as per the relevant codes of the Commodity Nomenclature of FEA), whereas VAT rate...

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VAT debit return bill passes first hearing in parliament

20.09.2019

The Armenian parliament approved at first hearing the bill on returning more than 56 billion drams in VAT debit balances to businesses. The bill was adopted with 92 votes in favor. The bill envisages applying the VAT return norm on all VAT debit amounts without differentiating old and new ones. The old debit amounts which are subject to return total 56 billion drams and the state has such obligation to nearly 2835 businesses. 2571 of these are...

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Water tariff in Armenia will not increase in the next 2 years

19.09.2019

The single operator of water supply in Armenia - "Veolia Djur" company applied to the Public Services Regulatory Commission (PSRC) to revise the current  tariff for drinking water from the current 180 drams per 1 cubic  meter up to 181.8 drams (including VAT). As the head of PSRC Garegin  Baghramyan assured an ArmInfo correspondent, despite the availability  of the application, the tariff will remain unchanged both...

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A DISCUSSION MEETING ON E-COMMERCE AND VIRTUAL CASH REGISTER WAS HELD AT SRC

18.09.2019

NON-CASH TURNOVER WILL GO UP AS A RESULT OF IMPLEMENTING THE VIRTUAL CASH REGISTER To directly boost e-commerce and to raise the number of non-cash transactions, the SRC has undertaken a process of introducing virtual cash registers. For that purpose, a discussion meeting on e-commerce and virtual cash register was held with businesses on committee’s initiative. During the meeting, Deputy Chairman of SRC Mikayel...

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