The Armenian economy will remain heavily dependent on Russia in the foreseeable future, according to credit rating agency Fitch.
A Cyprus-registered company has pledged to donate a 20 percent stake in one of Armenia’s three mobile phone operators to the Armenian government after being allowed to buy it from Russia’s MTS telecom giant.
Amid continuing economic growth, unemployment in Armenia fell to around 11 percent in 2023, the lowest rate registered in many years, according to official statistics.
Armenia is ready to formally pledge not to have any territorial claims to Azerbaijan in the future, Prime Minister Nikol Pashinian said over the weekend.
Economy Minister Vahan Kerobian has acknowledged that the Armenian government’s $1.2 million project to revive a Black Sea ferry service as an alternative trade route between Russia and Armenia has been a failure.
More than two dozen Armenian fishers have been arrested after clashing with officials enforcing a seasonal ban on fishing in the country’s Lake Sevan.
Armenia and Azerbaijan moved closer to signing a bilateral peace treaty by agreeing to exchange prisoners and take other confidence-building measures, a senior Armenian official said over the weekend.
Disposable personal income in Armenia fell by an average of about 3 percent last year despite double-digit economic growth, according to the national Statistical Committee.
The net amount of private remittances entering Armenia has decreased by more than 20 percent, standing at some $1.3 billion in the first nine months of this year, the latest statistical data shows.
In an apparent about-face, the Armenian government has assured refugees from Nagorno-Karabakh that it will pay pensions and other benefits received by them until their exodus to Armenia.
In an effort to boost bilateral trade, Armenia and Iran have agreed to stop levying road taxes from commercial trucks entering each other’s territory.
The Armenian government has awarded a $215 million contact to a consortium of two Iranian companies to upgrade a 32-kilometer section of the main highway connecting Armenia to Iran through its endangered Syunik region.
Azerbaijan allowed Armenian doctors on Tuesday to visit Nagorno-Karabakh to treat and evacuate scores of people injured in Monday’s powerful explosion at a fuel depot outside Stepanakert.
The ruling Civil Contract party expects to score a landslide victory in the upcoming municipal elections in Yerevan, its mayoral candidate, Tigran Avinian, said on Thursday.
Campaigning officially began on Wednesday for municipal elections in Yerevan effectively boycotted by Armenia’s main opposition groups.
Azerbaijan has allowed several dozen residents of Nagorno-Karabakh to travel to Armenia for the first time since tightening its blockade of the Lachin corridor more than two months ago.
Mining and metallurgy, the key manufacturing subsector of the Armenian economy, contacted significantly in the first half of this year despite continued robust GDP growth reported by the country’s government.
Armenians are coping with a heat wave coming from the south as air temperatures in parts of the country are rising to extremely high levels this week.
Taxes paid by Armenian companies importing cars, mobile phones and other consumer electronics increased drastically in the first half of this year, a further sign that they are taking advantage of Western economic sanctions against Russia.
Azerbaijan unblocked Armenia’s supplies of natural gas to Karabakh at the weekend only to halt them again several hours later amid growing shortages of energy, good and medicine experienced by the region’s population.
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