YEREVAN, December 1. /ARKA/. Armenia's public debt is a source of risk to the economy, according to the macroeconomic forecast of the Eurasian Development Bank (EDB) for 2021.
As noted in the review, the state budget in January-September 2020 was executed with a deficit of 155 billion drams. During the same period of the previous year, it was reduced with a surplus of 95 billion drams.

“Deterioration in public finances was the result, first of all, of an increase in expenditures: they increased to 1 230 billion drams from 1 053 billion drams a year earlier, partly in accordance with plans, and partly due to the need to finance measures to combat the coronavirus outbreak and support the economy. Budget revenues decreased to 1075 billion drams from 1,148 billion drams in January-September 2019,” the report says.

Categories: 121, 144, Economy @en, General news, News, News of the hour | Comments Off on EDB considers Armenia's public debt as source of risk to economy

Tags: Armenia, EDB, public debt

Read more

According to the Eurasian Development Bank (EDB) Macroeconomic Forecast for 2020, the EDB expects inflation to slow down in 2021 in most countries in the region

Categories: 121, 144, Economy @en, General news, News, News of the hour | Comments Off on EDB expects consumer price index in Armenia to drop to 1.1% in 2021 from 1.2% at the end of 2020

Tags: Armenia, EDB, price index

Read more

The Eurasian Development Bank (EDB) has established a Directorate for Digital Initiatives, whose work is supervised by Tigran Sargsyan, Deputy Chairman of the EDB Management Board

Categories: 121, Banks @en, General news, News, News of the hour | Comments Off on EDB Deputy Chairman to run newly established Directorate for Digital Initiatives

Tags: Digital Initiatives, EDB

Read more

Russian Prime Minister Mikhail Mishustin signed a decree on the nomination of Nikolai Podguzov for the post of chairman of the board of the Eurasian Development Bank (EDB), TASS reported

Categories: 121, Banks @en, General news, News, News of the hour | Comments Off on EDB to have new board chairman

Tags: EDB, Russia

Read more

In 2020, Armenia’s GDP growth will slow down to 5.6% due to the exhaustion of the effect of a low comparison base in the ore mining sector as well as a reduction in net exports caused by weak external demand, the Eurasian Development Bank’s division for analyses said in its review.

Categories: 121, 144, Economy @en, General news, News, News of the hour | Comments Off on EDB expects low inflation in Armenia to remain in 2020

Tags: Armenia, EDB, INFLATION

Read more

Four banks of Armenia already have active accounts at the Eurasian Development Bank, and another four banks intend to open accounts, Olga Komarova, deputy chair of the Eurasian Development Bank’s board, said Tuesday as she met with Varos Simonyan, Armenian deputy economy minister

Categories: 121, Banks @en, General news, News, News of the hour | Comments Off on Armenia's banks highly interested in opening accounts in Eurasian Development Bank

Tags: ACCOUNTS, Armenia, Banks, EDB

Read more

The Eurasian Development Bank’s (EDB) investment portfolio in Armenia stands now at $91 million and is likely to increase by another $30 million after the completion of another two projects, EDB’s director for Armenia Armen Melkikyan told reporters on Wednesday

Categories: 121, Banks @en, General news, News, News of the hour | Comments Off on Eurasian Development Bank's investment portfolio in Armenia stands now at $91 million

Tags: Armenia, EDB, investment portfolio

Read more

In an exclusive interview with Arka news agency Andrey Krainiy, deputy EDB Board Chairman, said the Bank forecasts that the economic growth in Armenia by the end of 2019 will exceed 6% and will be one of the highest in the EDB member countries

Categories: 121, 144, Economy @en, General news, News, News of the hour | Comments Off on EDB expects Armenian GDP growth to exceed 6 percent in 2019

Tags: Armenia, EDB, GDP, growth

Read more

YEREVAN, September 11. /ARKA/. Armenia’s economic activity index increased by 8.1% in July 2019 as opposed to the same month of 2018. Compared with June 2019, the figure upped by 3.4%, the Eurasian Development Bank (EDB) said. Konstantin Fedorov, head of an EDB unit, in charge of economic analyses, said the growth could have been […]

Categories: 121, 144, Economy @en, General news, News, News of the hour | Comments Off on EDB: Armenian economy speeds up growth

Tags: Armenia, Economy @en, EDB

Read more

YEREVAN, September 6. /ARКА/. Eurasian Development Bank (EDB) CEO Andrei Belyaninov said in an interview with Reuters (https://www.reuters.com/article/edb-bonds/eurasian-development-bank-plans-bond-issues-eyes-bank-stakes-idUSL5N25W110) that the bank was looking to buy stakes in local banks in the countries where it operates – which include Belarus, Armenia, Kyrgyzstan and Tajikistan in addition to the founding partners. “We are working on an equity […]

Categories: 121, Banks @en, General news, News of the hour | Comments Off on EDB looking to buy stakes in Armenian banks

Tags: Armenia, Armenian banks, EDB

Read more