Monetary Policy: Armenia’s Central Bank kept the refinancing rate at 6.5% on Aug 4, citing higher June inflation (5.1% y/y) and export-market stress that could weigh on incomes and demand. Banking Outlook: The Union of Banks expects 6–7% profit growth for 2026; banking system profit rose 6.8% to AMD 214bn in H1, while banks also flagged a slight easing in some lending rates. Credit Ratings: Moody’s lifted Armenia’s sovereign outlook and changed Acba Bank’s outlook to positive. Trade Risk: The Central Bank warned that reduced exports to Russia could endanger 1.5–2% of GDP. Russia Curbs on Armenian Goods: Russia suspended sales of 70,000+ bottles of Armenian water/soft drinks after labeling-system checks, underscoring ongoing market friction. Tax Enforcement: Armenia’s State Revenue Committee uncovered about AMD 1.3bn in shadow turnover in fuel sales, with a criminal case opened. Tech & Policy: Armenia appointed a new minister for High-Tech Industry and introduced a state personnel “talent pool” bank for public administration. Remittances: Remittances to Armenia jumped 130% in Jan–Jun 2026. Cross-border Logistics: Azerbaijan said it has largely met obligations on reopening transport links and expects TRIPP construction to start in Armenia after preparation.