Top IT taxpayers | 2023-2024
In 2024, 80 IT companies were among the 1,000 largest taxpayers, contributing a total of AMD 84.4 billion to the state budget. This marks an increase of AMD 452 million compared to the contributions of IT companies among the 1,000 largest taxpayers in 2023. The IT companies included in the list of 1000 largest taxpayers […]
Armenia lags behind many peers in AI preparedness
Armenia ranks 70 among 165 countries in 2023 AI Preparedness Index (AIPI). With a score of 0.49, Armenia slightly outperforms countries such as Kyrgyzstan (0.43), Belarus (0.47), and Azerbaijan (0.47). Nonetheless, it trails behind countries like Estonia (0.76), Spain (0.65), Portugal (0.65), the UAE (0.63), and Romania (0.58). AI Preparedness Index assesses nations’ readiness to […]
Increasing the Economic Resilience of Armenia
Modex advisory, as part of the “Enhancing Economic Stability in Armenia, Georgia, and Moldova” project, coordinated by the Polish CASE – Center for Social and Economic Research, has developed a comprehensive report aimed at identifying the sources of Armenia’s vulnerabilities from macroeconomic, structural, and institutional perspectives. The report examines Armenia’s recent domestic and foreign political […]
Armenia Outperforms Its Income Group Average in Talent Competitiveness
Armenia ranks 55 among 134 countries in 2023 Global Talent Competitiveness Index (GTCI). Armenia ranks relatively high in attracting (41st) and retaining (44th) talents, while ranks low in growing (91st) and enabling (70th) them With a score of 46.67, Armenia surpasses countries such as Türkiye (40.20), Kazakhstan (38.58), and Azerbaijan (46.19), as well as the […]
Net profits of RA banks | Q1-Q3 2023/2024
In January-September 2024, RA banks registered AMD 268 billion net profit, which is about 25% more than last year. The highest profit was registered by Ardshinbank (AMD 83 billion). All banks made a profit, but 3 out of 18 commercial banks recorded a decrease in net profit.
Top 10 Armenia-born Tech Startups by Funding Size
Over the last 10 years, the top 10 Armenia-born tech startups by funding size raised around $490 million in funds, with Picsart accounting for 39.8% or $195 million. Among these startups, only Picsart and CodeSignal have raised Series C funding, securing $130 million and $50 million, respectively․ In 2024, EasyDMARC ($20 million), Podcastle ($13.5 million), […]
Top IT taxpayers | H1 2022-2023
In January-June 2024, 79 IT companies were included in the list of 1000 large taxpayers, and they provided a net income of AMD 45.9 billion for the state budget, which is AMD 123 million less than in the same period of 2023. The IT companies included in the list of 1000 largest taxpayers together provided […]
Net profits of RA banks | H1 – 2023/2024
In January-June 2024, RA banks registered AMD 172 billion net profit, which is about 1.2 times higher than last year. The highest profit was registered by Ardshinbank (AMD 50 billion). All banks made a profit, but 4 out of 18 commercial banks recorded a decrease in net profit.
Top IT taxpayers 2022-2023
Note: The taxes paid by each company is calculated as the difference between the total amount paid by the company and the amounts returned to the unified account in terms of VAT and excise tax.