Armenia

Armenia
Member sinceEDB Investment Portfolio
As of March 2023
23 projects in five sectors:
2
Mining
14
Financial sector
1
Transport
3
Energy
13 March 2023
The Eurasian Development Bank (EDB) presented the latest issue of the Macroeconomic Review for its six member states. The Macroeconomic Review is a regular publication by the EDB, which provides a snapshot of the macroeconomic situation and projects short-term developments in its member countries. The review also contains statistical information on key macroeconomic indicators
22 February 2023
The Government of Armenia, the Eurasian Development Bank (EDB) and Lydian Armenia have expressed their willingness to restart and implement the Amulsar gold mine project. A trilateral protocol was signed following a meeting between Vahan Kerobyan, Minister of Economy of Armenia; Denis Ilin, Vice Chairman of the EDB Management Board; Armen Melkikyan, EDB Country Director for Armenia; Jeffrey Coach, Member of the Board of Directors at Lydian Armenia; and Hayk Aloyan, CEO of Lydian Armenia
08 February 2023
The Eurasian Development Bank (EDB) presented the latest issue of the Macroeconomic Review for its six member states. The Macroeconomic Review is a regular publication by the EDB, which provides a snapshot of the macroeconomic situation and projects short-term developments in its member countries. The review also contains detailed statistics on key macroeconomic indicators
06 December 2022
Effective management of Central Asia’s water and energy complex in the Aral Sea basin becomes increasingly important every year. Coordinated approach could ease natural, economic, technical and social uncertainties in ensuring sustainable water use and reliable energy supplies. The EDB’s new report, Regulation of the Water and Energy Complex of Central Asia, scrutinises historical data and international experience to suggest five institutional solutions that would benefit all countries of the region. In particular, the report proposes to establish the project consortium to promote faster construction and more efficient operation of major hydro-electric objects and validates a model for a financial operator’s engagement in the regulation of Central Asia’s water and energy complex
29 November 2022
The EDB has published its Macroeconomic Outlook for the Bank's six member states for 2023. Bank analysts expect the region’s economies to continue adapting to the new environment. In terms of economic developments in 2023, Russia’s GDP is projected to decline by 2% while the other countries will see growth in their GDPs: Armenia by 4.2%, Belarus by 0.3%, Kazakhstan by 4.2%, Kyrgyzstan by 3.5%, and Tajikistan by 6.5%
15 November 2022
The optimal scenario for developing Central Asia’s energy system, as proposed by the Eurasian Development Bank (EDB), would reduce investment needs in the region’s water and energy complex by US $11 billion, slow increases in the average tariffs for consumers from 50 to 35 per cent, and reduce installed capacity needs from 84.0 GW to 74.8 GW, said Alexander Gareyev, Managing Director and Head of the EDB Directorate for Energy, at the Second Almaty Energy Forum
10 November 2022
A new report by the Eurasian Development Bank (EDB, the Bank) focuses on structural changes in Central Asian economies. Over the past 20 years, Central Asian countries’ GDP has grown more than sevenfold, and at an average rate of 6.2%, which is faster than in developing countries and more than twice as fast as the world as a whole. Central Asia’s strategic role in wider Eurasia will increase, as will its importance to its immediate neighbours and key economic partners, Russia and China. The region’s countries have a historic opportunity to take advantage of their transit potential and to approach external markets through their emerging international transport corridors. Coordinated development of the water and energy complex, including green energy, also present significant opportunities for growth. Integration initiatives have significant potential to stimulate economic growth, with infrastructure integration being especially important
26 October 2022
The International North–South Transport Corridor (INSTC) becomes increasingly important as some EAEU countries reorientate their foreign trade and develop “new logistics.” For this reason, the Caspian countries are seeking to boost investment in the corridor’s transport infrastructure. EDB experts estimate that more than 100 projects are being planned for implementation before 2030. At the same time, over 40 non-tariff and other barriers impede the effective functioning of the corridor. A new EDB study provides recommendations on how to improve soft infrastructure, including the creation of an enabling environment for international freight transport, the harmonisation of border crossing procedures, and the introduction of a coordination mechanism for managing the INSTC
04 August 2022
The Eurasian Development Bank (EDB) will provide up to US $37 million to finance the construction of 11 solar power plants with a total capacity of up to 65 MW in the Gegharkunik and Aragatsotn Regions of Armenia. The relevant documents were signed in Yerevan by Nikolai Podguzov, Chairman of the EDB Management Board, and Hayk Harutyunyan, President of the New Energy Group
04 August 2022
The Eurasian Development Bank (EDB) and Tashir Group entered into a cooperation agreement, signed by Denis Ilin, Vice Chairman of the EDB Management Board, and Narek Karapetyan, First Vice President of Tashir Group, in the presence of Nikolai Podguzov, Chairman of the EDB Management Board. The parties have agreed to develop cooperation in the EAEU+ in metallurgy, telecommunications, energy and other sectors
Yerevan Representative Office
Address:
Erebuni Plaza Business Centre, office 811, 26/1 Sargsyan St., Yerevan, 0010, Republic of Armenia
Tel:
+374 (10) 54 01 02
Fax:
+374 (10) 54 13 52
Email:
info@eabr.org
Key macroeconomic indicators as of March 2023
Indicator
|
2022
|
2023
|
Projections
|
---|---|---|---|
GDP growth
|
2022
14,4%
|
2023
4,2%
|
Projections
Stabilisation of consumer demand, low external demand due to weaker global economic activity, increased exports to Russia and other EAEU countries
|
Year-end inflation
|
2022
8,3%
|
2023
4,6%
|
Projections
Weakening external price pressures, overvaluation of the dram and stabilisation of consumer demand
|
Refinancing rate, year’s average
|
2022
10%
|
2023
7,6%
|
Projections
Gradual reduction of the refinancing rate as inflation slows down
|
AMD/USD exchange rate, year’s average
|
2022
436
|
2023
438
|
Projections
Remittances and tourism are projected to support the appreciation of the Armenian dram, while surging imports will cause it to weaken
|
Publications
EDB Macroeconomic Outlook 2023
29 November 2022
EDB Monitoring of Mutual Investments 2022
20 December 2022