Delays at key border crossing for Armenia’s trade with Russia to be reduced: Business Week Armenia

In this week’s edition of CivilNet’s business digest:

  • Lengthy delays at the border crossing between Georgia and Russia, reportedly due to malfunctioning X-ray machines, are expected to be reduced in the coming days.
  • Money transfers to Armenian banks by individuals outside the country nearly tripled year-on-year in the first quarter, hitting more than $1.5 billion.
  • Armenia’s Central Bank decided to keep its key refinancing rate unchanged, at 10.75%, as inflation in the country continues to ease from last year’s peak.
  • Upwards of $760 million in taxes flowed into Armenia’s state coffers in April, marking a new record for the country’s highest tax collection rate in a single month.

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