Armenian Finance Minister Vahe Hovhannisyan presented the country’s economic development forecast for the coming years in parliament. According to government projections, GDP growth in 2025 is expected to reach 5.6%, with a forecasted growth rate of 5.5% for 2026-2027.
"Our estimates, along with those of many international partners, indicate that Armenia’s GDP growth potential has increased from an average of 4.5% to 5.5%," the minister stated during preliminary discussions on the 2025 state budget draft in the Standing Committees of the National Assembly on October 28.
The forecasts predict economic growth of 5.8% in 2024, 5.6% in 2025, with a deflator increase of 3.5%, and nominal GDP reaching approximately $28.5 billion (11 trillion 50 billion drams).
Hovhannisyan emphasized that the government maintains a 7% growth target for the 2021-2026 period. To achieve this goal, plans include accelerating reforms, ensuring proper execution of budgeted capital expenditures, and intensifying efforts to diversify export markets and attract investments.
Regarding the budget deficit, it is expected to be 5.5%, gradually reducing to 3% in the medium term. Public debt will increase to 53.5% and then stabilize at around 54.6%.
The minister also noted that these figures may be adjusted depending on various economic risks and development scenarios.
