Armenia's economy has reached a new level of development, showing resilience since the global financial crisis, stated Minister of Finance Vahe Hovhannisyan while presenting the 2025 state budget proposal in Parliament on November 12.
According to Hovhannisyan, despite serious challenges and a natural normalization of economic activity following years of high growth, the country's economy remains notably resilient. Forecasts indicate that economic growth will reach 5.8% in 2024 and 5.6% in 2025.
A significant achievement, according to the minister, is the increased growth potential of the economy from a previous range of 4–4.5% to 5–5.5%. This improvement has been driven by both external factors and targeted government policies, including increased public investment in infrastructure, enhanced competition in goods markets, and a better business environment.
Hovhannisyan emphasized that strengthening the country's economic and defense resilience remains a top priority for the government.
"Economic growth and a strong sense of security should reverse the cycle of emigration. Our compatriots must be assured that their homeland is the best place to realize the fruits of their labor and creative ideas," the minister concluded.
