“Eurasian Economic Commission Reports $533 Billion Trade Turnover Amidst Corruption Proceedings – Armenian Judiciary Takes Action”
The Eurasian Economic Commission reported a trade turnover of 533 billion drams in the first half of 2024. Chief Judge Ana Vardapetyan mentioned reducing the turnover in 327 cases and sending 165 individuals to court. 347 individuals were involved in international trade, with 93 cases handled by judges with personal jurisdiction. The commission’s administration has undergone reorganization to improve qualifications and include young career judges.
Armenia’s EU Grants Reach Staggering 10.186 Billion AMD: Finance Minister Announces Details at National Assembly Session
Armenia has received 10.186 billion drams in grants from the EU, with targeted grants making up 77.7% of the total. According to Vahan Sargsyan, Minister of Finance, the funds were given to both countries and organizations. Find out more here.
“Record-Breaking: Labor and Social Affairs Budget for 2023 Hits 705.6 Billion Drams, Minister of Finance Announces”
The labor and social affairs budget for 2023 is 705.6 billion drams, the largest allocation to date. The Minister of Finance announced this during a parliamentary committee meeting, mentioning a 15% increase from 2022. Over 100 programs have been implemented. Find this news on Telegram.
“Armenia’s Tax Revenues Increase by 13.6% in First Quarter of 2024, Customs Duties Decrease By 22.4%: State Commission Reports”
In Q1 2024, tax revenues collected by the state budget reached 500.6 billion drams, a 13.6% increase YoY. Customs duties decreased by 22.4% due to lower import volumes. Taxpayers returned 5.3% less, totaling 88.6 billion drams. Overall, tax and customs revenues amounted to 589.2 billion drams, with a 8.5% increase compared to last year.
“Yerevan’s Public Transportation Budget Soars to $4.5 Million for New Buses, Urgent Upgrade Needed”
Annual expenses for urban public transportation will reach 18 billion drams (approx. 4.5 million dollars) for new buses, says Armen Galjyan, head of Yerevan Urban “Community Contract” group. Optimizing costs and upgrading the transport network are vital in the next decade.
Yerevan’s Oldest Sports Complex Sold for 5 Billion Drams – “Spartak” Stadium Under New Ownership
Yerevan’s oldest sports complex, the “Spartak” stadium, and adjacent buildings were sold to “Eco Petrol” LLC for 5 billion drams. The transaction details are clarified by “Hetq”. The complex, built in the early 20th century, was formerly owned by the “Spartak” sports organization. The ownership has since been transferred, and now the complex serves as collateral for a loan. The complex was sold below market value for 5 million 254 million drams. The new owner is Sergey Eprikyan, the son of the CEO of “Eco Petrol”.
“Government to Provide 3.5 Billion Drams in Financial Aid to 70,000 Artsakh Conflict Victims”
The government allocates 3.5 billion drams from the state budget for financial assistance to 70,000 people affected by the Artsakh conflict, including monthly payments and communal services. More aid is planned for 100,000 residents, requiring 30 billion drams.
Armenia’s Ministry of Agriculture Set to Pump 3.5 Billion Drams into Fertilizer Subsidies by 2023, Chief Justice Reveals: Surge in Applications Linked to Cryptocurrency Cultivation on Arable Lands
The Ministry of Agriculture in Armenia plans to allocate 3.5 billion drams for fertilizer subsidies in 2023. Chief Justice Anna Vardapetyan reveals an increase in applications for this subsidy compared to the previous year. The use of electronic wallets and cryptocurrencies aids in the cultivation of arable lands.
Armenia’s State Budget Surges with 13.8% Growth in Revenues, Exceeding Expectations
Armenia’s state budget revenues for the first 9 months of 2023 exceeded expectations, with a 13.8% increase compared to 2022. Expenses also rose by 17.2%. Revenues from taxes and duties accounted for 99.9% of the projected inflow.
Armenia: Government Reserve Fund Projected to Reach a Whopping 94 Billion Drams by 2024, Providing a Safety Net for Future Challenges
The government reserve fund in Armenia is set to reach 94 billion drams by 2024, as revealed by Finance Minister Vahé Hovhannisyan during a meeting with the National Assembly. This fund aims to efficiently manage risks, financial obligations, and emergency situations in the country.