ArmInfo.

ArmInfo.

ArmInfo.The volume of  dollar transactions in the foreign exchange interbank of Armenia from  September 22 to September 25, 2020, decreased by 34.8%, after growing  by 55.6% in the previous week (September 14-18). At the same time, in  the intrabank foreign exchange market during the reporting week,  dollar-denominated transactions went into decline, in euro  transactions, purchases fell into recession amid a slowdown in sales  growth, and in ruble transactions, the growth in purchases slowed  down while sales entered growth. The exchange currency platform  continues to be idle. As a result, from September 22 to 25, the dram  continued to revaluate against the dollar - from 485.5 to 485 AMD / $  1, maintaining the same trend towards the euro - from 575.5 to 565.5  AMD / 1 EUR, while intending to revalue against the ruble - from 6.5  to 6.3 AMD/ 1 RUB. A year earlier, as of September 25, 2019, the AMD  exchange rate against the dollar was 476 AMD / $ 1, against the euro  - 523 AMD / 1 EUR, and against the ruble - 7.5 AMD / 1 RUB, which, in  comparison with the current exchange rates, indicates the y-o-y  devaluation of the AMD against the dollar and euro, in case of  revaluation against the ruble.

ArmInfo.

ArmInfo. ARARATBANK announced rebranding, marking the beginning of a new historical stage, for the bank itself, in particular, and the entire banking  system of Armenia in general. Symbolically, the event was organized  at the height of 2851 meters above sea level, on the top of Mount  Teghenis, which offers an incredible view of the biblical Mount  Ararat, Lake Sevan, Mount Arai Ler, Geghama Range and 4 peaks of  Mount Aragats.

ArmInfo.

ArmInfo.

ArmInfo. By order of the head of the Food Safety Inspection Body of Armenia, during the last two weeks of September, state control actions were carried out on the  alcoholic beverages market.

ArmInfo. Despite the significant stress associated with the coronavirus, Armenia's banking system has shown itself to be stable. Chairman of the Board of  Directors of ARARATBANK Grigor Hovhannisyan, Chairman of the Bank's  Council, expressed a similar opinion to journalists at the event  dedicated to the rebranding of ARARATBANK on September 24.

ArmInfo. A more impressive decline in imports compared to exports reduced Armenia's foreign trade deficit in January-August 2020 by 18% per annum. At the same  time, in August 2020 alone, the growth of this indicator accelerated  to 13% from 7% in July, against the background of a more accelerated  growth of imports than exports. And in August 2020, compared to  August 2019, the foreign trade deficit decreased by 5% as a result of  an almost equal decline in exports and imports.

ArmInfo.

ArmInfo.. In Armenia, economic activity in January-August 2020 deepened into recession even more - to 6.4%, against the backdrop of rapidly declining volumes of exports  and imports. In August of this year against August 2019, economic  activity decreased by 9.8%, and in August 2020 alone it slowed growth  to 7.4% from 9.7% in July. A year earlier, in January-August 2019,  against the same period of 2018, economic activity increased by 7%,  in August compared to August 2018 - by 7.6%, and in August 2019 alone  - by 7.2%.

ArmInfo. The Central Bank of Armenia opposes the limitation of the upper threshold of credit interest rates of credit companies, seeing this as an undermining of  market mechanisms and a threat to the stability of the financial  system. Central Bank Deputy Chairman Nerses Yeritsyan stated this in  his speech at the parliamentary hearings on "Application of fines and  penalties on overdue loan obligations, interest rates on loans,  amnesty and other credit problems in the banking system of Armenia".

ArmInfo. The program "Armenian Wines in Russia" was launched. The official launch of the project was given during the festival of Armenian wine in the  Armenian pavilion of VDNKh in Moscow, the press service of the RA  Ministry of Economy reported.

ArmInfo.

ArmInfo. In 8 months of 2020, the shortfall in tax revenues to the state budget of Armenia amounted to about 49 billion AMD. On September 24, the Chairman of  the State Revenues Committee of the RA Edward Hovhannisyan told  reporters at the end of the government meeting.

ArmInfo.

ArmInfo. Armenia and the Eurasian Development Bank will revise the terms of the investment loan provided for the construction of the North-South road corridor.  At the meeting on September 24, the RA government considered it  expedient to conclude a third supplementary agreement between the RA  and the EDB.

ArmInfo.

ArmInfo. The Armenian government approved the 25th program of anti-crisis measures aimed at neutralizing the economic consequences caused by the COVID-19  pandemic.