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Economic news

Microbusiness in Armenia may be exempted from all types of taxes


Acting Armenian Prime Minister Nikol Pashinyan visited on October 17 a charity fair-exhibition of Syrian-Armenian works "Breath of Syrian-Armenian  Culture in Yerevan" on North Avenue. He was accompanied by Minister of Diaspora of Armenia Mkhitar Hayrapetyan. One of the fair participants turned to Pashinyan with a request to exempt start-up entrepreneurs from taxes.  According to him, it is necessary at least at the start -...

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Armenian government may not have time to reduce income tax by January 1, 2019


Changes in the Tax Code of Armenia, in particular, in the area of income tax, can occur not from January 1, as previously planned by the government, but for example, from May 1 or June 1 of next year. This was stated on October 16 by the Chairman of the State Revenue Committee (CGD) of Armenia David Ananyan, commenting on ArmInfo on the prospect of tax changes in the light of the expected dissolution of the legislative body...

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Just days after La Francophonie Economic Forum, French company eyes building resort in Armenia


A French company is willing to make investments in Armenia, deputy minister of economic development and investments Mane Adamyan said on Facebook. “We begin to talk about the results,” she said, referring to the Economic Forum which was held as part of the XVII Summit of La Francophonie in Yerevan, Armenia. “The French Poma company wants to build a new skiing resort in Armenia. Poma is among the largest companies of the...

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Velvet revolution in Armenia cannot be considered successful without a revolution in the economy


The velvet revolution in Armenia will not have a price without revolutionary economic transformations. This was stated on October 10 by Prime Minister  Nikol Pashinyan, speaking at the closing of the business forum of the  International Organization of Francophone in Yerevan. According to Pashinyan, the velvet revolution in Armenia was not a  purely political, but a revolution of values. "Ultimately, this revolution...

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US to increase the volume of financial assistance to Armenia to $ 26 million


The United States of America will increase the volume of assistance to Armenia. This was stated on October 9 by the US Ambassador to Armenia Richard  Mills. As the press service of the US embassy in Yerevan reports, the United  States of America increased $ 14 million in financial assistance to  Armenia within the framework of foreign aid, and the United States intends to provide more than $ 26 million to Armenia over...

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According to the updated IMF forecast, in 2018 inflation in Armenia will be 3% with an increase in 2019 to 4.4%


According to the updated IMF forecast, inflation in Armenia will make 3% in 2018, with an increase in 2019 to 4.4%. This is indicated in the IMF's October  Prospects for the Development of the World Economy. For the EEU countries, the International Monetary Fund also updated its forecast: inflation in the Russian Federation is expected to be at 2.8% in 2018, with an increase in 2019 to 5.1%. In Belarus,  inflation is...

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By the end of 2018, "Galburdjian Group" will launch the production of sesame oil in Armenia


By the end of 2018, a plant for the production of vegetable sesame oil will be launched in Armenia. After a successful launch of the project with a budget of $  500 thousand, the Galburdjian Group plans to expand investments to several million and begin construction of a machine-building plant for the production of equipment for the food industry. According to the founder of the "Galburjian group" Zohrab Galburjian,  the...

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