August 21 business news

The main local and international economic news of the day

Local

Defense spending may not increase at all in 2026: Nikol Pashinyan
Prime Minister Nikol Pashinyan has stated that there may not be a significant increase in defense spending in the 2026 state budget, or it may not happen at all. According to him, this is the government's assessment at this moment, but the situation will be analyzed promptly, and all decisions will be made in accordance with short-term, medium-term, and long-term developments.

In July 2025, fines for violations of cash register rules amounted to 253.6 million drams
In July, violations of cash register rules were recorded for 649 taxpayers. The total amount of fines reached 253.6 million drams. Of these, 21 were fined 1 million drams or more. Cases of unregistered employees were recorded for 67 taxpayers amounting to a total of 70 million drams.

As of June 2025, the largest number of employed individuals in Armenia is in wholesale and retail trade
In June 2025, the total number of employees in Armenia was 796,476. Of these, 219,743 were public sector employees and 576,733 were private sector employees. The highest employment was recorded in the wholesale and retail trade, and repair of motor vehicles and motorcycles sector with 136,187 employees.

In July 2025, 263,592 tourists visited Armenia
According to the Armenian Tourism Committee, 263,592 tourists visited Armenia in July. From January to July 2025, the largest number of visitors came from Russia (39%), Georgia (14%), and Iran (8%).

International

Turkey starts construction of the railway connecting with Nakhchivan
On August 22, the construction of the railway connecting Turkey and Nakhchivan will begin in the city of Igdir. The project cost is approximately 2.4 billion euros, and the length of the route is 224 km. The railway is considered part of the "Zangezur Corridor".

Since the end of January, Donald Trump has purchased more than $100 million in bonds
Since taking office, US President Donald Trump has purchased corporate, as well as state and municipal bonds worth a total of more than $100 million.

Inflation in the EU remained at 2% in July
Inflation in the EU remained at 2% in July. The increase in prices for food, alcohol, and tobacco reached 3.3%, while the increase in service prices slowed to 3.2%.

Saudi Arabia increased oil production by 6.2% in June
In June, oil production in Saudi Arabia increased by 6.2%, reaching 6.141 million barrels per day. However, exports decreased by 0.8%. Year-on-year, production increased by 1.6%.

Interesting

Deadlines for registering unauthorized constructions will be extended
The Cadastre Committee announces that citizens will be given another opportunity to register unauthorized structures and incomplete constructions built until 2021 and subsequently legalize them.