ArmInfo. In March 2025, the  second customs administration program, implemented with the support  of the World Bank, will be completed in Armenia.

ArmInfo. Armenia is on the way to  a crisis, says Associate Professor of the Armenian State University  of Economics Aghasi Tavadyan.

ArmInfo. On August 12,  Ambassador Extraordinary and Plenipotentiary of the Republic of  Armenia to the Socialist Republic of Viet Nam Suren Baghdasaryan met  with the Minister of Foreign Affairs of Viet Nam, Bui Thanh Son.

ArmInfo.  The State Revenue  Committee of Armenia proposes to abandon the incentive norms for  exemption from criminal liability, thus toughening criminal liability  for smuggling of goods. The initiative is posted on the  unified portal of legal acts e-draft.am.

ArmInfo. The Armenian  government suggests that farmers abandon the current system of  farming in their backyard plots, Armenia's Prime Minister Nikol  Pashinyan stated in his video speech on Facebook. 

ArmInfo.  Major repairs are  underway on the M-1 Yerevan- Gyumri-state border interstate highway  section. This was reported by the Road Department Foundation.

ArmInfo.

ArmInfo.IDBank and Impact Hub Yerevan are happy to announce the launch of the Social Impact Award Armenia 2024 Incubation Program. Ten innovative teams were selected to participate in this intensive boot camp, aimed at developing solutions to pressing social challenges. The program is funded by the "The Power of One Dram" initiative by Idram and IDBank – AMD 4.165.643 was transferred to the program in the frames of the companies’ initiative.

ArmInfo. The Traffic  Organization Center of RA reported that there are currently 1,729  Armenian trucks waiting in the electronic queue to cross the  Russian-Georgian border at the Upper Lars checkpoint in North  Ossetia.  

ArmInfo. The Ministry of  High-Tech Industry of the Republic of Armenia announces a grant  competition for the "Access to Market" component  within the  framework of the "From Idea to Business" grant program.  The total  grant budget is 290 million drams. It is planned to provide funding  to the winners of the competition in the form of grants for  presenting their products on the market. 

ArmInfo. The growth in  industrial production in Armenia was the highest among the countries  of the Eurasian Economic Union. This is evidenced by the data from  the Eurasian Economic Commission, presented on the EEC page in the  telegram channel.

ArmInfo. The implementation  of large-scale projects in the urban development sphere in Armenia  will require a significantly increased construction capacity. This  statement was made yesterday at a ceremony dedicated to Builder's Day  by Tigran Khachatryan, Deputy Prime Minister of the Republic of  Armenia.

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ArmInfo. In July 2024, 237,603  tourists visited Armenia, as reported by the RA Tourism Committee.   The source notes that this figure is lower than the tourist visits  recorded in July 2023, when 255,706 tourists visited the Republic.   From January to July, the largest number of tourist visits to Armenia  were registered from Russia (42%), Georgia (13%) and Iran (8%).  To  recall that from January to June 2024, 964, 000 tourists visited  Armenia, which is 4% lower than the previous year. In June alone, the  number of tourists exceeded 180.700 people, showing an annual growth  rate of 8% but a monthly decline of 9%. 

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ArmInfo. The construction of an 8 km long bypass road around the Agarak archaeological site is ongoing within the framework of the North-South Road Corridor (Tranche 2) investment program.

ArmInfo. Armenia's gross international reserves (GIR) decreased by 14.2% per annum or $555 million to $3.354 billion by July 2024, while a year ago an increase of 13.3% or $458.6 million was recorded. Thus, GIR continues to move away from the historical maximum of $4.2 billion recorded in August 2023.

ArmInfo. Since August 9 of this year, Armenian Airlines has started operating flights on the Yerevan-Kazan-Yerevan route.

ArmInfo. Russia retains its leading position in Armenia's foreign trade, now supported by imports, whereas a year ago the main driver was exports.