Economy

In October 2024, 213 cases of violations of the rules for the use of cash registers were recorded, with fines totaling approximately 97.96 million drams

The government has decided to exempt “Jermuk Group” from customs duties.

Armenia will once again receive a loan for the North-South Transit Highway. In 2024, Armenia secured a loan of approximately 804 million euros for the construction of the highway. The project, which began in 2009, is still incomplete. The construction and operation are expected to be completed by 2033.

It is planned to build a market for agricultural products, souvenirs, and handicrafts in the Tatev community, which will become a center for retail trade and leisure. Around 20-25 new pavilions will be constructed for local producers and traders

The Asian Development Bank intends to create a free economic zone in Gyumri. From October 28 to November 1, the bank’s delegation visited Armenia to assess the potential for developing a free economic zone in Gyumri.

The Ministry of Economy proposes to reimburse customs duties during EU exports.

China’s Charge d’Affaires, Chen Min, stated that Armenia and China could closely cooperate in high-tech fields. Cooperation programs are already underway in Armenia, such as the import of electric vehicles from China. This collaboration will contribute to the economic development of both countries and to regional peace.

By the end of 2024, Armenia is expected to rank second in the world for the lowest inflation rate.This is according to the International Monetary Fund.

Economy Minister Gevorg Papoyan has announced that Armenia’s GDP has increased by 6.5%. He made this statement during the discussion of the draft law on the 2025 state budget at the National Assembly.

An analysis of price changes for goods in Armenia shows that prices for some food items increased from March to September, while others decreased