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Armenia’s economic dynamism remains strong


According to the World Bank, Armenia’s economic dynamism remains strong, with growth driven by services and recovery of mining․ The WB notes that the growth of economic activity index reached 10.7% in December 2019, compared to the same period of 2018. The Bank also notes that in December 2019 Armenia preserved low inflation rate (0.7% against 2018 December), while it slowed even down in January 2020. The inflation of December was...

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Tax privileges for repatriates expanded in Armenia


Changes initiated by the SRC in the Tax Code of the Republic of Armenia (RA Tax Code) provide for tax benefits for repatriates, namely exemption from  customs duties of their imported property upon return to their  homeland. In addition, a change in the period of permanent stay  abroad was initiated, namely, if earlier, according to the RA Tax  Code, those citizens or natives of Armenia who had not lived in...

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Armenia raises baby bonuses, child benefits


The Government of Armenia has raised the amounts of baby bonuses and child benefits with the purpose of improving the demographic situation. Under previous regulations, the baby bonus for the first child was 50,000 drams, and 150,000 drams for the second child. By the new amendments, the baby bonus for both the first and second child will be 300,000 drams. The decision will come into effect from July 2020. The Cabinet also approved another...

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From January 1, 2020, prices in Armenia will increase by 7-10 percent


From January 1, 2020, prices in Armenia will increase by an average of 7-10 percent in connection with the application of common customs duties of the  countries of the Eurasian Economic Union. Mikayel Melkumyan, Chair of  the Standing Committee on Regional and Eurasian Integration of the  National Assembly of the RA, shared the same forecast with a similar  forecast at a press conference in Yerevan on December...

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