ArmInfo.The current situation at Ucom (the resignation of more than 50 top employees, including senior staff - Ed. note) is not related to the decision of the Public  Services Regulatory Commission (PSRC) to consolidate the company with  VEON Armenia (Beeline trademark).  

ArmInfo. The Russian PJSC Sovcombank and the Armenian company IDRAM (together with CJSC <IDBank>) and LLC Mobile Payments agreed on a strategic partnership in the field of financial services.

ArmInfo. According to the new World Bank forecast, the GDP growth of Armenia in 2020 will be 1.7% (according to the baseline scenario), with acceleration in 2021 to  4.5% and in 2022 to 4.7%. This is stated in the WB economic report  "Fighting Covid-19. ECA Economic update''.  

ArmInfo. So far, it is still difficult to foresee the positive progress in terms of FDI in the real sector of the Republic of Armenia. Deputy Minister of Economy  Avag Avanesyan stated this during a meeting of the RA NA Standing  Committee on Regional and Eurasian Integration.

ArmInfo.Recognizing the importance of increasing economic activity in the country, IDBank begins accepting credit applications as part of measures to neutralize the economic consequences of the coronavirus.

ArmInfo. An International Monetary Fund (IMF) team led by Nathan Porter conducted discussions on the second review of Armenia's reform program supported by the IMF  Stand-By Arrangement (SBA) during March 12-April 8, 2020, the press  release of the IMF informs.  At the conclusion of the mission, Mr.  Porter issued the following statement:

ArmInfo. Starting from 2021, the EU's Generalised scheme of preferences (GSP+) for duty-free delivery of more than 6 thousand commodity items will be terminated  for Armenian exporters, since Armenia is now in a group of  middle-income countries. In this connection, the Deputy Minister of  Economy of the Republic of Armenia Avag Avanesyan, on April 10 during  the meeting of the RA NA Standing Committee on Regional and Eurasian  Integration, noted that the termination of the regime will primarily  affect the textile industry of the Republic of Armenia.

ArmInfo.The International Monetary Fund (IMF) forecasts a drop in Armenia's GDP in 2020 at 1.5%. The negative GDP forecast is associated with restrictions on  internal mobility and activity due to the COVID-19 pandemic, a  significant decrease in external demand, tightening financial  conditions and due to disruptions in global trade and supply chains. 

ArmInfo.

ArmInfo. ACBA-Credit Agricole Bank, working in a special mode, continues the process of lending to SMEs and the agricultural sector, as well as implements programs  aimed at their development. According to the press service of the  Bank, since the beginning of 2020, the Bank has provided loans in the  field of agriculture for 13.9 billion drams, of which 5.2 billion in  March alone. The total loan portfolio of SMEs amounted to 12.4  billion drams, of which 5.4 billion - in March.

ArmInfo.Despite the fact that we going through a difficult time, I believe that we should do everything it is possible that our organization does not interrupt  for a second the usual rhythm of its work.

ArmInfo.There was no deal to sell Beeline. ArmInfo was informed about this in the press service of the company.

ArmInfo. The government of Armenia satisfied the applications of a number of economic entities for obtaining credit resources on favorable terms for a total of 8.5  billion drams. This was announced on April 9 during a meeting in the  Government of the Republic of Armenia chaired by the Prime Minister  of the Republic of Armenia Nikol Pashinyan, during which the  participants discussed issues related to solving social and economic  problems.

ArmInfo. Despite the fact that  IT sector does not belong to those vulnerable sectors that mostly suffered from the spread of coronavirus, however, the pandemic  affects this area of economic activity as well.

ArmInfo.Precious metals continue to rise in price in Armenia, having slightly reduced their growth rates - from 13.9% in the previous week to 5.1% in the current  one.  

ArmInfo.

ArmInfo.

ArmInfo. Following Armenia, Belarus also turned to the Russian Gazprom with a proposal to lower gas prices.

ArmInfo.The Minister of Economy of the Republic of Armenia Tigran Khachatryan presented the progress in implementing anti-crisis measures developed by the  Government of the Republic of Armenia on the economic bloc. As the  minister noted during a press conference on April 9, the government  has already begun the process of providing business assistance in 4  packages of anti-crisis measures.

ArmInfo. In total, 928 million drams will be available in the banks of the Republic of Armenia to implement 3 packages of anti-crisis measures of social significance.