“US Dollar Exchange Rate in Armenia Drops Slightly, Euro and Pound See Increase”
The US dollar exchange rate in Armenia today is 402.37 drams, while the Euro and British pound rates are 427.88 drams and 490.61 drams respectively. Russian ruble stands at 4.32 drams. Find more details on News.am.
“Armenian Government Surpasses Tax Revenue Goals: Collects Over 1 Trillion Drams in Record-Breaking Year”
Armenia sees significant increase in tax revenues with 15% more collected in 2023 compared to previous year. Approximately 305.0 billion drams collected from taxpayers, up 43.6% from last year.
Artsakh President Warns of Potential Logistical Challenges in Integrating Displaced Artsakh Residents into Armenian Labor Market
Recent developments in Artsakh have led to intensified internal demand, as management efficiency programs and financial expenses are implemented. Artsakh’s President, Martine Galstyan, discussed the consequences of integrating over 100k Artsakh natives into Armenia’s labor market. Creating favorable conditions for this integration is crucial to avoid logistical challenges and ensure the expansion of employment demand. Efforts must be made to integrate displaced people into socio-economic and agricultural development. News from Armenia in NEWS.am.
“Stability in Armenian Banks: No Trend of Withdrawing Funds Despite Latest Developments”
The latest developments in September had no impact on foreign currency deposits in Armenian banks. Martine Galstyan, President of the Central Bank of Armenia, stated there is no trend of withdrawing funds from banks. Deposits of resident individuals grew by 0.7%, legal entities by 4.9%, and term deposits of individuals by 3.7%. Interbank deposits show no sign of withdrawal.
“Armenia’s Construction and Service Sectors Boom, Boosting Economy; Demand for Affordable Housing on the Rise -NEWS.am”
Armenia’s construction and service sectors are thriving, boosting the economy. Demand for real estate is growing, particularly in affordable areas. KFBS Advisory recommends regulations to manage demand and increase affordable housing supply to control price rises. The risk of inflation deviation is moderate, but KFBS will assess and stabilize prices if impacted. Stay updated with NEWS.am for news from Armenia.