Author: Alex Nanijanian

Feb 9 2024

In a world where economic fluctuations have become the norm, Armenia stands as a beacon of stability and growth. According to Renaissance Capital analysts, the country is projected to maintain a robust economic growth rate of 6.5% year-on-year in 2024, following an impressive 8.1% expansion in 2023.

This growth places Armenia among the top performers in the CIS+ region, with steady external inflows, particularly from Russia, and robust domestic activity driving its economic engine. The country's economic performance in 2023 was marked by a significant 9.4% year-on-year increase in economic activity across major industries.

The construction and service sectors have been the cornerstones of Armenia's economic resurgence. In 2023, the construction sector expanded by a staggering 14.8%, while trade and other services grew by 25.7% and 10.3%, respectively.

The relocation of individuals and companies from Russia to Armenia, coupled with the reorientation of financial and trade flows, has contributed significantly to this economic surge. This influx of human and financial capital has not only stimulated economic activity but also diversified Armenia's economic landscape.

Armenia's trade sector has experienced a remarkable transformation in recent years. In 2023, exports and imports saw dramatic increases, with exports up by 55% and imports by 40% year-on-year.

Remittances from Russia, which had doubled in 2021, remained high by mid-2023, although they did not reach the previous year's peak levels. These remittances have played a crucial role in supporting Armenia's economy, providing a stable source of foreign exchange and boosting consumer spending.

Forecasts for Armenia's economic growth in 2024 vary, reflecting the complexity of the global economic landscape. The Armenian government predicts a 7% growth, while the Central Bank expects a slightly more conservative 6.1% expansion.

The IMF forecasts a 5% growth, and Fitch Ratings anticipates a 6% growth in 2024 and a 4.9% growth in 2025. Despite these variations, one thing is clear: Armenia's economic growth story is far from over.

As the world watches with bated breath, Armenia continues to carve its niche as an economic powerhouse, defying odds and redefining possibilities. Its journey serves as a testament to the power of resilience, innovation, and strategic foresight in the face of economic uncertainty.

https://bnnbreaking.com/finance-nav/armenia-a-rising-economic-powerhouse

Feb 9 2024

---

News.am, Armenia

Feb 6 2024

When the Armenian authorities ratified the Rome Statute, the main rationalization was that it would make it possible to bring to account those Azerbaijani criminals who have committed crimes against Armenian servicepersons. Has the Armenian government taken steps to bring these Azerbaijanis to account? Opposition MP Artur Khachatryan asked this question of Minister of Justice Grigor Minasyan during Wednesday’s question-and-answer session with the government at the National Assembly of Armenia.

"For 2-3 months now, specialists in the Ministry of Justice, also together with our colleagues in the office of international legal affairs, have prepared a legislative package, the basis of which is compliance with international standards and the Criminal Procedure Code requirements which will bring us to the right arena of international criminal justice. It will give us the opportunity to use and apply the professional experience of international investigative bodies, to reveal the war crimes," Minasyan responded.

And to the question whether Armenia will file a lawsuit also against the president of Azerbaijan, Ilham Aliyev, under the Rome Statute, the justice minister responded as follows: "It is the ratification and implementation of such international agreements into the state system that forces both our and future [Armenian] governments to act in accordance with international principles. If the presence of guilt is found, then there will also be accountability within the scope of the [aforesaid Rome] convention."

https://news.am/eng/news/806212.html

Jan 24 2024

By Vic Gerami

Hey, Ben Savage,

I was flattered to learn yesterday that you or your team blocked me on X (Twitter). I imagine it’s because I called you out on your hollow and offensive political posturing posts devoid of empathy, education, or solution.

You, me, and your ‘team’ know that you will not get elected to Congress to replace Congressman Schiff. Similarly, I knew you didn’t have a chance to become a Councilmember when you ran for West Hollywood City Council a year ago.

What I do know is that unlike your disingenuous posts about the West Hollywood ‘community,’ your hollow posts about Artsakh and Armenians are deeply offensive. As a gay man and having grown up in LA, I’ve been an integral part of West Hollywood since I came out of the closet in 2001. In all these years, I’ve never seen you in WeHo, ONCE. I’ve never witnessed you make any effort to be a part of the ‘West Hollywood community,’ NOT queer WeHo or anything else. But while campaigning, you suddenly talked like you were Elton John. That’s fake, disrespectful, and BS.

But now, you and your ‘team’ keep posting half-hazard copy/photos on your social media handles to win over the Armenian vote, without which not you or any other candidate can become a Congressperson from District 30. You have made no effort to get to know Armenian-Americans, learn about our struggle, the second Armenian Genocide (Artsakh Genocide), how we’ve been going through the worst tragedy and struggles since WWI, how we are under attack by anti-Armenian/Armenophobic flyers and hate speech all over LA and Beverly Hills. No, you have not. You simply have a strategist and a campaign manager who tell you what to say to get the vote.

In the latter case of the two runs for office, you’ve gone too far. Azerbaijan, with help from Turkiye, Russia, and Israel, massacred 10,000+ Armenians from 2020 to 2023, dozens of Armenians are currently held hostage by Aliyev’s brutal regime, Azerbaijan has escalated the cultural genocide of Armenian churches, monasteries, cemeteries, and monuments. ARMENIANS’ WOUNDS ARE TOO FRESH FOR YOU TO PLAY POLITICS.

We get you are trying to drum-p publicity for your dormant acting career, but NOT at our expense. I’ve offered you myself as a journalist, a scholar, and an expert about the matter if you truly wanted to learn. But you’ve not taken up my offer. Nor do I see your rhetoric changing to think that you are getting your facts from someone educated.