ArmInfo.On September 9, RA Minister of the Environment Romanos Petrosyan held the first working meeting-discussion with representatives of KfW Bank online. 

ArmInfo.COVID-19 pandemic has made the digital transformation vitally important. Going online and shifting to online platforms have become a necessity, bringing over certain challenges for many businesses and individuals in Armenia.

ArmInfo. In Armenia, the service sector has great potential for rapid recovery. Sedrak  Mamulyan, the head of  the Development and Preservation of Armenian  Culinary Traditions NGO said this in an interview with ArmInfo,  speaking about the current recession due to the coronavirus pandemic.

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ArmInfo. The Ministry of Economy of Armenia continues to carry out visits to processing enterprises during the grape-harvesting season. According to the  press service of the department, this time representatives of the  Ministry of Economy headed by Deputy Minister Arman Khojoyan left for  the Ararat region, where they visited the Proshyan Brandy Factory,  Yeraskh Wine Factory and MAP CJSC.

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ArmInfo.During the privatization of healthcare facilities, the Armenian government will itself determine the need to maintain the profiles of these  facilities. At a meeting of the parliamentary commission on economic  issues on September 9, amendments to the privatization program of  state property for 2017-2020 are discussed.

ArmInfo.Armenia and Georgia will exchange preliminary electronic information on the  international movement of vehicles and goods. The Commission on  Economic Affairs of the National Assembly of the Republic of Armenia  at the September 9 sitting issued a positive opinion on the relevant  protocol signed in November 2019.

ArmInfo. In Armenia, a state duty will be charged for organizing the production of  disinfectants. The Commission on Economic Affairs of the RA National  Assembly issued a positive opinion on the amendments to the law "On  State Duty" submitted by the government of the country.

ArmInfo.In January-July 2020, the revenue of the trading sector of Armenia decreased by 11% (against 8.9% growth in the previous year), amounting to 1.5  trillion.  drams ($ 3.1 billion), of which 255.3 billion drams were  provided in July with a slowdown in monthly growth to 11.7% from  14.3% in June. According to the Statistical Committee of the Republic  of Armenia, such dynamics was provoked by the reversal of the  dynamics of retail and wholesale trade from growth to decline, as  well as the continuing subsidence of the purchase / sale of cars.

ArmInfo.The volume of cargo transportation in Armenia in January-July 2020 to the same period in 2019 increased by 3.4% (against 55.7% decline a year  earlier), amounting to 7745.1 thousand tons. Of these, 61.6% or  4774.4 thousand tons are accounted for by road transport with an  annual growth of only 0.2%. This is evidenced by the data of the RA  Statistical Committee.

ArmInfo.Revenue in the communications sector of Armenia in January-July 2020 in comparison with the same period of 2019, it sank by 4.5% (against 1.5% growth a  year earlier), amounting to 80.7 billion drams. This is evidenced by  the data of the RA Statistical Committee.

ArmInfo.Metallurgical industry of Armenia in January-July 2020 accelerated y-o-y growth from 1.2% to 13.2%.

ArmInfo. The financial system of Armenia is stable and dynamically developing,  uninterruptedly performing the main function - an intermediary role  for many years. Chairman of the Central Bank of the Republic of  Armenia Martin Galstyan voiced a similar assessment during a press  conference on September 8. In this vein, he emphasized that the level  of liquidity and capital of financial organizations in Armenia  currently act as a sufficient buffer to resist the coronavirus  crisis.

ArmInfo. In the banking system of Armenia, deposits have always grown in parallel with loans, however, in the conditions of the coronavirus crisis, the growth of  deposits has slowed down somewhat. Chairman of the Central Bank of  Armenia Martin Galstyan announced this on September 8 during a press  conference.

ArmInfo. During the coronavirus pandemic, the banking system of Armenia provided loan holidays to 550 thousand individuals and about 17 thousand legal  entities, as a result of which loan obligations in the amount of 1.3  trillion drams were postponed. Chairman of the Central Bank of the  Republic of Armenia Martin Galstyan said this on September 8 during a  press conference, noting that due to the three-month credit holidays,  the banking system did not receive 100 billion drams in the form of  loan repayments.

ArmInfo. The foreign trade turnover between Armenia and Russia in January-July 2020 turned the dynamics towards a 3.3% decline from 8.8% growth in the same period of 2019, amounting to $ 1.13 billion.

ArmInfo. In the banking system of Armenia, the share of non- performing loans (NPL) may exceed 10%. This forecast was given on September 8 at a press  conference by the Chairman of the Central Bank of the Republic of  Armenia Martin Galstyan, noting that it is still difficult to predict  when this will happen - this year or later.

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