ARKA News Agency - eng

EU plans to invest €250 million in the development of Syunik — Maragos

The European Union plans to invest €250 million in Armenia's Syunik region to promote the region's development and support businesses, stated Ambassador Vasilis Maragos, Head of the EU Delegation to Armenia.

"Next week we are traveling to Syunik, where we plan to invest €250 million in the region's development and business support," Azatutyun Radio quotes Maragos as saying.

The ambassador emphasized the importance of investing not only in infrastructure and economic development, but also in human capital.

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Armenia preparing to build a new ANPP: what is known about its plans until 2041

Armenia is simultaneously implementing a program to extend the operation of Unit 2 of the Armenian Nuclear Power Plant (ANPP) and preparing for the construction of a new nuclear power unit. The primary target for the existing plant is 2036. However, the technical plan approved by the government includes work to justify the feasibility of operating the unit's irreplaceable and non-repairable components until 2041.

On September 9, ANPP Director General Eduard Martirosyan announced that the plant was already conducting individual calculations with a target date of 2041. According to him, the current license is valid until 2031, and an extension to 2036 is being considered, as well as for a longer period if technical and regulatory justifications are met.

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Armenian citizens may be allowed to send part of their income tax to media outlets, NGOs, and political parties

When filing their tax returns, Armenian citizens will be able to independently select a public organization, media outlet, or political party to which funds from their income tax will be allocated. The Armenian government approved the corresponding legislative initiative at a meeting on Thursday.

Armenian Finance Minister Vahe Hovhannisyan presented the new mechanism.

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Why a stronger dram doesn't necessarily lead to lower prices for imported goods - 5 factors

The strengthening of the Armenian dram can curb imported inflation, but the exchange rate is only one factor in the final price of a product. Prices are simultaneously affected by the global price of goods, the currency of specific foreign trade transactions, logistics, energy, and other costs.

This is particularly evident against the backdrop of current price dynamics. In August 2026, food and non-alcoholic beverage prices in Armenia were 6.4% higher than the previous year, with overall inflation at 4.4%.

A stronger dram can mitigate external price pressure, but does not necessarily fully offset it.

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Pashinyan ruled out a downturn in Armenia's economy and attributed the decline in exports to a decline in re-exports

Armenian Prime Minister Nikol Pashinyan declared that there was no downturn in the country's economy, pointing to a 6% GDP growth rate for the first half of 2026.

"Armenia's GDP growth for the first half of the year was 6%. There are dozens and hundreds of countries that dream of 1-2% economic growth. Armenia has 6% growth, and is that a decline for us?" Pashinyan said, answering journalists' questions.

Speaking about foreign trade, the Prime Minister initially stated that exports had decreased by "a little over 0.1%," noting that he didn't remember the figure by heart. After journalists clarified the statistics, he agreed that exports had indeed declined.

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Poverty is declining in Armenia, extreme poverty is close to being eradicated – Labor Minister

Armenian Labor and Welfare Minister Arsen Torosyan stated that poverty rates in Armenia continue to decline.

During government hour in parliament on Wednesday, he was asked to announce the country's poverty rates for 2025, to which he replied that last year's data would be published soon.

He also announced the figures for 2024: the poverty rate is 21.7%, and extreme poverty is 0.6%.

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Does the Firebird AI factory threaten Armenia's water resources? What's confirmed and what's still missing

A figure of nearly 1.9 million liters of water per day has been circulating publicly. However, an analysis conducted by ARKA found that this estimate is not a confirmed figure for Firebird’s water consumption.

Here is what we found:

▪️ the operating AI factory in Hrazdan uses a closed-loop system and dry cooling, with no continuous water consumption for cooling;
▪️ Armenia’s Ministry of Environment says that Firebird is not registered as a water user and has not applied for the relevant permit;
▪️ as it plans to scale up to 300 MW, the company intends to retain the dry-cooling approach.

🔗 ARKA News Agency took a detailed look at where the figure of nearly 2 million liters came from, how Firebird’s cooling system works, and what questions still remain unanswered.

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Armenia faces challenges in stabilizing economic growth – Central Bank Governor

Armenia faces challenges in stabilizing economic growth, stated Martin Galstyan, Chairman of the Central Bank of the Republic.

"Of course, it's very difficult to predict which specific direction should drive economic growth, because everything around us is changing so rapidly that the drivers, naturally, can also change," he said yesterday at a press conference.

According to him, the Firebird project, specifically GPU imports, could be an interesting example of the current export-import dilemma.

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European Parliament approved temporary measures to liberalize trade with Armenia

On Tuesday, the European Parliament approved the European Commission's proposal to introduce temporary measures to liberalize trade for products of Armenian origin.

During the vote at the plenary session, which is taking place from September 14-17 in Strasbourg, 583 MEPs voted in favor of the proposal, 49 voted against, and 39 abstained.

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Central Bank of Armenia raised its interest rate for the first time in over three years, to 6.75%

At its meeting on Tuesday, the Board of the Central Bank of Armenia decided to raise the monetary policy rate by 0.25 percentage points to 6.75%.

According to the regulator's press service, the Board simultaneously set the Central Bank's Lombard repo rate at 8.25% and the rate on funds attracted by the Central Bank from banks at 5.25%.

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Armenia and the IAEA discussed the extension of the Metsamor Nuclear Power Plant (ANPP) and the selection of a new nuclear power plant model

The progress of the life extension program for Unit 2 of the Armenian Nuclear Power Plant (ANPP) and the selection of a new nuclear power plant model were discussed in Vienna by RA Minister of Territorial Administration and Infrastructure David Khudatyan and Director General of the International Atomic Energy Agency (IAEA) Rafael Mariano Grossi.

As Khudatyan reported on Facebook, the meeting took place on the sidelines of the 70th session of the IAEA General Conference.

"With Rafael Grossi, we discussed ongoing and planned programs within the framework of industry cooperation with the IAEA," the minister wrote.

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Economic activity in Armenia grew 7.7% year-on-year in the first seven months, exceeding initial forecasts – WB

Economic activity grew 7.7% year-on-year in January-July 2026, exceeding initial forecasts, according to the World Bank's Armenia "Monthly Economic Update – September 2026."

It is noted that economic activity slowed to 6.5% year-on-year in July from 7.4% in June, but cumulative growth since the beginning of the year remains strong.

"Construction and non-trade services remain the main growth drivers, increasing by 26.5% and 17% year-on-year, respectively. The growth in construction was accompanied by a revival in the real estate market: the number of apartment transactions in Yerevan nearly doubled in July, while prices in the city center rose by 12.7% year-on-year, driven by demand from a new influx of Russians and the Armenian diaspora," the study states.

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Armbanks Weekly Digest: Key Events in the Armenian Financial Market (September 7–13)

Armenia’s financial agenda last week focused primarily on the capital market, the banking sector, government borrowing, and the development of payment infrastructure.

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ARKA Armenia Weekly: Key Events of the Week: Politics, Economy, and Markets (September 7–13)

The main dynamic of the week was the gradual transformation of diversification policies into a set of concrete economic decisions. Armenia is expanding economic dialogue with France and the UAE, negotiating with Iran to simplify customs procedures, and discussing new logistics projects, all while maintaining its membership in the Eurasian Economic Union (EAEU) and attempting to resolve trade restrictions arising within the union.

The domestic economy maintains strong activity in industry and construction, but the foreign trade picture is less clear.

The overall signal for businesses is that opportunities are expanding along with regulatory and infrastructural changes.

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Armenia and Iran agreed to launch the Norduz-Meghri "green" customs corridor

The heads of the customs departments of Armenia and Iran agreed to launch the simplified customs corridor between Norduz and Meghri. The corresponding protocol was signed following a meeting between Eduard Hakobyan, Chairman of the State Revenue Committee of Armenia, and Foroud Asgari, Head of the Iranian Customs Administration, according to the Iranian news agency Tasnim.

The meeting took place in Jolfa. The parties discussed measures to simplify customs procedures and expedite the movement of trucks between the two countries.

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Cube Invest is the first investment company in Armenia to issue bonds worth 5 billion drams: CEO

Cube Invest has become the first investment company in Armenia to issue bonds on the local market, announced Cube Invest CEO Mikael Margaryan.

“We have begun placing our own bonds totaling 5 billion drams. We expect the bonds to be fully placed within a day. According to my information, there’s very little time left. I view this as a sign of confidence from our partners, institutional and retail investors, and as confirmation that we’re moving in the right direction,” Margaryan said at the “Investment Prospects 2026” forum in Yerevan.

The bonds have a maturity of 36 months, and the par value of each bond is 100,000 drams.

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Pashinyan announced plans to diversify gas supplies amid possible price increases

Armenian Prime Minister Nikol Pashinyan announced plans to diversify gas supplies. He made this statement at a briefing on Friday, responding to a question about whether Armenia is considering an alternative to Russian gas supplies in the context of Russian President Vladimir Putin's statement that Armenia could lose a number of privileges, including preferential gas prices, if it leaves the Eurasian Economic Union (EAEU).

Moscow has repeatedly warned of the possible economic consequences of Armenia's transition to EU standards. Russian President Vladimir Putin stated that, in such a case, Russia would have to curtail its integrated economic cooperation with Armenia. He estimated that the country could lose up to 14% of its GDP if energy prices rise after leaving the EAEU.

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From laws to new satellites: Armenia aims to develop its space industry, with partnership with France on the agenda

Armenia is interested in a more substantive partnership with France in the space sector, Armenian Prime Minister Nikol Pashinyan stated on Wednesday during a meeting with French President Emmanuel Macron at the Elysee Palace.

The head of the Armenian government is in Paris to participate in the first International Space Summit.

Pashinyan thanked Macron for the invitation and warm welcome, emphasizing the importance of deepening cooperation between the two countries in space. "Armenia is interested in a more substantive partnership in this area," the prime minister noted.

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Pashinyan and Macron named economic cooperation as a priority for Armenia-France partnership

Economic cooperation is one of the priority areas of the strategic partnership between Armenia and France, as noted during a meeting between Armenian Prime Minister Nikol Pashinyan and French President Emmanuel Macron at the Elysee Palace.

According to the press service of the Armenian government, Pashinyan is in Paris to participate in the first International Space Summit.

The parties also discussed prospects for deepening bilateral cooperation in the space sector. Pashinyan stated that Armenia is interested in a more substantive partnership with France in this area.

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Armenia has no intention of leaving the EAEU - Khandanyan

Armenia remains a full member of the EAEU and does not intend to leave the Eurasian Economic Union (EAEU) in the near future, stated Sargis Khandanyan, Chairman of the Standing Committee on Foreign Relations of the National Assembly of Armenia and member of the Civil Contract faction.

"Armenia does not have such a goal in the near future," Khandanyan said at a briefing on Wednesday, responding to a question about the republic's possible withdrawal from the EAEU.

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