Armenia. In 2021, the state will allocate about 520,000,000 AMD (more than $1 million) to support small and medium-sized businesses in Armenia. According to the Ministry of Economy, businesses will receive the necessary consulting services, training courses, and vocational training to improve access to finance.
Armenia. According to the World Bank’s latest report, the economic and social measures to mitigate the pandemic cost Armenia’s budget around 2.3% of GDP. The report states that revenues fell by 6% yoy resulting in the deficit of around 1.7% of projected annual GDP in the year-to-July.
Armenia. Armenia has lifted the Covid-19 state of emergency and introduced a nationwide “quarantine” regime until January 11, 2021. It keeps requirements for wearing facemasks in all public areas and enforces social distancing and hygiene rules for businesses.
Dear readers, Please note that from September on, we are moving to monthly COVID Alerts. You will receive the next digest from us at the beginning of October.
Armenia. Armenia’s government approved a Strategy for the development of small and medium business and an action plan for 2020-2024 to address the pandemic. According to the strategy, productivity of SMEs will increase by 3% in 2020-2023 and by 7.5% in 2024.