“Armenia’s Public Finances on the Rise: Sustainable Growth and Effective Management Observed, Expansion of Support for Social Expenditure”
Armenia’s public finances show improvement and sustainable economic growth in 2023, per a new report by RDB. Social expenditure is expanding with increased public spending and defense budget integration. GDP growth expected to reach 6.2% in 2024, decreasing to 4.8% by end of 2025.
“Stalled Progress: Russian-Turkish Relations Struggle Amidst War and Economic Strains”
Discover the implications of the ongoing war in Russia’s domestic economy and its impact on the Russia-Turkey relationship. Despite a ceasefire in Artsakh, Russian-Turkish relations have stagnated. Learn how Russia’s long-term plans have been disrupted, resulting in a retreat and elimination of their influence in the region. Additionally, find out about Azerbaijan’s actions post-Antalya Forum and their political activities.
Armenia Enjoys Successful Financial Year as Minister Predicts 8% Economic Growth for 2023
Armenia expects 8% economic growth in 2023, according to Finance Minister Vache Hovhannisyan. Certain tax changes are planned for the next year, and a declaration of income will be required starting in 2024. The Minister also discussed the successful financial year and projected indicators for 2024.
Cooperation in the EAEU Thrives Amidst International Crisis, Promising Economic Growth and Increased Trade
Cooperation in EAEU remains strong amidst challenging times, with positive economic growth in member countries. Industrial production and construction see significant increases. Read more on NEWS.am.
China’s Economic Powerhouse Continues to Thrive: GDP Growth Rate to Exceed 4.3% with Manufacturing Sector on Steady Growth Path
China’s annual GDP growth rate is projected to exceed 4.3%, with steady growth in the manufacturing sector. By 2023, China’s manufacturing output is set to make it the world leader, boosting its global position.
Armenia’s Successes as an EAEU Member: Deputy Chairman Speaks Out during Press Conference
Armenia, as a member of the EAEU, has made significant political and economic progress. The Deputy Chairman of the CCP, Valery Harutyunyan, confirmed Prime Minister Nikol Pashinyan’s participation in the EAEU summit. Armenia’s economic growth increased by 12.7% last year, ranking among leading countries. Harutyunyan emphasized the importance of EAEU membership and stated that it brings positive outcomes. Regarding the CIS summit, Armenia has refrained from participation due to discussions on political and national security issues. Source: NEWS.am.
“Armenian Government’s Budget Raises Concerns Over Inflation and Social Assistance Deficiencies”
Next year, Armenian government budget revenues projected to be 2.67 trillion drams or 25.5% of GDP. Expenditures expected to be 3.017 trillion drams, resulting in a projected budget deficit of 48.4%. Article stresses need to increase social assistance and improve transparency in implementation of programs. Without these measures, social vulnerability will continue to worsen.