Author: Emil Lazarian

 14:37,

YEREVAN, JUNE 23, ARMENPRESS. AI Conf Armenia 2023 has brought together leading experts to discuss the AI revolution and the wave of new opportunities that it’s bringing along.

Speaking at the event, Yerevan State University Rector Hovhannes Hovhannisyan said that artificial intelligence has already transformed the world and continues to shape the course of human progress.

“AI has huge potential. It can increase production output, transform manufacturing and improve people’s lives all around the world. AI can help in early diagnosis of disease, it can provide teachers with individualized teaching skills and support in meeting the individual needs of each student. These are just a few examples of the numerous directions that AI can positively impact our society,” Hovhannisyan said.

The YSU Rector also warned about the challenges and ethical considerations regarding AI.

“From this perspective, as an educational institution, it is our duty to analyze the risks and provide the knowledge enabling our students to find their place in this transforming world.”

Krisp and 10Web co-founder and Managing Partner and BigStory VC Artavazd Minasyan said that,theoretically, everything in the virtual world is subject to AI automation.

“Certainly, by taking away jobs, AI will also create new opportunities. It’s important to be flexible. Career-wise it’s important to pay attention what sectors you are looking into. You should choose a direction which is less subject to automation. It’s important to enter a sphere which has the latest skills of human activities, a sector where the largest economic growth is recorded,” he added.

 15:39,

YEREVAN, JUNE 23, ARMENPRESS. The factors that have contributed to the economic growth in Armenia last year are associated with major investments and inflow of capital, economist Atom Margaryan told ARMENPRESS when asked to comment on Moody’s changing Armenia’s outlook to stable from negative and affirming Ba3 rating.

Furthermore, the high valuation of the dram impacted the structure and content of exports, with re-exports also playing a significant role.

Moody’s changed Armenia’s outlook to stable from negative and affirmed Ba3 rating on .

Moody’s changed the outlook because it found Armenia’s economic and fiscal prospects to have improved, while the risks are balanced compared to its March 2022 rating.

A part of the increased capital and workforce inflow, which improved the economic indicators in Armenia, are expected to be maintained, according to Moody’s.

The agency forecast 7% economic growth for 2023 and 5-6% for 2024.

The debt burden will be lower than during the pre-pandemic period, stabilizing around 45%, according to the assessment. 

Margaryan said that Moody’s ratings overall reflects the situation in Armenia and is a ‘positive signal’ for investors, especially when the fiscal prospects are also improved.

“The factors which have contributed to economic growth especially last year are associated with major investments and inflow of capital,” he said, adding that the fiscal situation has also improved, both in terms of revenues and spending.

Asked about balancing economic risks, the expert that that the risks should be categorized. Although the balancing of the financial risks in terms of financial stability and fiscal policy inspires positive hopes, the existing military-political risks regarding the border situation contains serious threats. For example, one of the major investment projects, the construction of a steel mill in Yeraskh, is carried out amid Azerbaijani gunfire,” the economist said, referring to the construction by GTB Steel which has intermittently come under cross-border gunfire from Azerbaijan.

Manvel Margaryan

 17:01,

YEREVAN, JUNE 23, ARMENPRESS. Speaker of Parliament of Artsakh (Nagorno Karabakh) Artur Tovmasyan has welcomed the adoption of the ‘Ensuring free and safe access through the Lachin Corridor’ resolution by the Parliamentary Assembly of the Council of Europe (PACE).

“We welcome the adoption of the resolution by PACE calling on Azerbaijan to unblock the Lachin Corridor, immediately fulfill the ECHR and ICJ rulings, restore power and gas supply into Nagorno Karabakh, ensure the movement of persons and vehicles along the Lachin Corridor in both directions,” Speaker Tovmasyan said.

He highlighted the fact that Azerbaijan is being called out to abandon its belligerent and threatening rhetoric against Armenians and resolve the issue of rights and security of Armenians of Nagorno Karabakh through dialogue with Stepanakert, and neutral international involvement.

“Any mechanism aimed at peace is acceptable for us, we welcome international monitoring and fact-finding missions that would shed light on the existing situation and suppress Azerbaijan’s aggressive policy.”

The Lachin Corridor has been blocked by Azerbaijan since 12 December 2022. 

The United Nations’ highest court – the International Court of Justice (ICJ) – ordered Azerbaijan on February 22 to “take all steps at its disposal” to ensure unimpeded movement of persons, vehicles and cargo along the Lachin Corridor in both directions.  Azerbaijan has been ignoring the order ever since.

Lachin Corridor is the only road linking Nagorno Karabakh with Armenia and the rest of the world.

 17:14,

YEREVAN, 23 JUNE, ARMENPRESS. The Central Bank of Armenia informs “Armenpress” that today, 23 June, USD exchange rate up by 0.96 drams to 387.10 drams. EUR exchange rate down by 4.25 drams to 420.70 drams. Russian Ruble exchange rate down by 0.04 drams to 4.57 drams. GBP exchange rate down by 2.76 drams to 492.31 drams.

The Central Bank has set the following prices for precious metals.

Gold price down by 10.26 drams to 23896.08 drams. Silver price down by 4.95 drams to 281.52 drams.

 19:34,

YEREVAN, JUNE 23, ARMENPRESS. Maria Zakharova, the official representative of the Russian Foreign Ministry, stated that Azerbaijan’s blocking of the entrance to the Lachin Corridor is a violation of the joint declaration of the leaders of Russia, Azerbaijan and Armenia, which leads to deepening of tensions, ARMENPRESS reports, Zakharova said, commenting on the situation around the Lachin corridor.

“In connection with the closing of the entrance to the Lachin Corridor by Azerbaijan, we draw attention to the fact that such actions are a violation of the provisions of the November 9, 2020 declaration of the leaders of Russia, Azerbaijan and Armenia. Such steps lead to the escalation of tension and do not contribute to maintaining a normal atmosphere in the process of normalization of relations between Azerbaijan and Armenia with the support of Russia,” said Zakharova.

Russia calls on Baku to completely unblock traffic through the Lachin Corridor, and also emphasizes the importance of the consistent implementation of the tripartite agreements.

Yesterday, June 22, the Azerbaijani side resorted to another provocation and criminal action, closing the only road between Artsakh and Armenia (Lachin Corridor) with a concrete barrier.

“In fact, in addition to the illegal checkpoint and blocking the road with armored vehicles, Azerbaijan is now demonstratively blocking the road, preventing any movement, including by the Red Cross and peacekeepers.

This incident once again demonstrates the criminal goals of the Azerbaijani authorities to completely isolate the people of Artsakh from the outside world and to use all methods of repression,” said the press release of Artsakh’s information headquarters.

 21:48,

YEREVAN, JUNE 23, ARMENPRESS. On June 23, Artsakh Republic President Arayik Harutyunyan convened a meeting of the Security Council, ARMENPRESS was informed from the Office of the President of Artsakh.  

Problems related to food security in the conditions of the blockade of Artsakh by Azerbaijan and their possible solutions were discussed.

State Minister Gurgen Nersisyan reported on the measures taken to overcome the situation created in the context of the suspension of humanitarian supplies. He also presented the programs launched in recent months and aimed at reducing foreseeble risks in the field of food security.

Minister of Agriculture Georgy Hayriyan presented the planned activities concerning the organizition of harvesting, procurement and supply of agricultural products considering the existing fuel shortages.

An exchange of views took place on the issues presented.

 13:53,

YEREVAN, JUNE 22, ARMENPRESS. The salaries in Armenia continue to grow, Prime Minister Nikol Pashinyan said at the June 22 Cabinet meeting.

“The wage fund in Armenia doubled in May 2023 compared to May 2018, growing by 106,6% or by 103 billion 40 million drams. Meaning, today, employed persons get 103 billion 40 million dram more salary than in May of 2018,” he said.

The average monthly salary per capita grew 57,6%.

The salaries are continuously growing as a result of the government’s reforms, the prime minister said.

“Excluding the inflation effect, with the results of 2022, salaries grew 6,3% in Armenia.”

 10:25,

YEREVAN, JUNE 23, ARMENPRESS. Moody’s changed Armenia’s outlook to stable from negative and affirmed Ba3 rating on .

Moody’s changed the outlook because it found Armenia’s economic and fiscal prospects to have improved, while the risks are balanced compared to its March 2022 rating.

A part of the increased capital and workforce inflow, which improved the economic indicators in Armenia, are expected to be maintained, according to Moody’s.

The agency forecast 7% economic growth for 2023 and 5-6% for 2024.

The debt burden will be lower than during the pre-pandemic period, stabilizing around 45%, according to the assessment.

 15:21,

YEREVAN, JUNE 22, ARMENPRESS. All government ministries are doing everything possible to restore the normal movement of persons and goods along the Lachin Corridor, Minister of Healthcare of Armenia Anahit Avanesyan told reporters.

“The humanitarian situation is certainly getting worse hour by hour, because the reserves are depleting. Besides, when planned medical treatment is postponed and the needs aren’t addressed, the needs become urgent,” she said.

The Ministry of Healthcare of Armenia maintains permanent contact with its colleagues in Nagorno Karabakh, Avanesyan said.

“There are patients in Artsakh whose treatment is only possible in Armenia. The Stepanakert hospital is well equipped, it has a good specialized team, but there are some specialized directions that can be addressed only in Yerevan,” she said.