According to the International Monetary Fund’s projections, Armenia will rank 17th among 190 countries worldwide in terms of GDP growth in 2024, with an expected growth rate of 6%. In the first half of this year, Armenia’s economy has already shown a 6.5% increase.
Speaking at a National Assembly session on November 13, Minister of Economy Gevorg Papoyan attributed this growth to increased added value across several sectors. For comparison, the minister highlighted growth rates in other regions: the Baltic states are expected to see an average growth of 0.5%, the eurozone 0.8%, and the Eurasian Economic Union (EAEU) countries 4.6%.
Papoyan stated that these figures clearly indicate that Armenia’s economy remains in a high-growth phase and is successfully withstanding global challenges.
Earlier, BMG reported that the 2025 state budget bill recently approved by the government envisions significant increases in both revenue and expenditures.
According to the draft, state budget revenue in 2025 is projected to reach 2.873 trillion drams (about $7.39 billion), 11% higher than the expected figure for 2024 and 22% above actual 2023 revenue levels.
Expenditures for 2025 are set at 3.482 trillion drams (roughly $8.95 billion), marking a 13% increase from the anticipated 2024 level and 37% above 2023 expenditures.
The budget deficit for 2025 is projected at approximately 609 billion drams ($1.57 billion).
