Garik Petrosyan, head of the Macroeconomic Policy Department at Armenia's Ministry of Finance, shared optimistic forecasts for the country’s economic development in the coming years.
According to the draft state budget for 2025, the economy is expected to grow by 5.8% in 2024 and by 5.6% in 2025. These figures reflect real income growth in the economy, and fiscal policy will be focused on its efficient redistribution.
“After a period of rapid growth in previous years, economic growth rates are returning to their natural levels, which are still higher than in past years.
To maintain high growth rates, the share of public investment in budget expenditures is set to increase. This will strengthen the country's economic potential and improve both economic and defense infrastructure,” the Deputy Minister of Finance explained.
Ensuring the sustainability of public finances and debt remains a key priority. “In recent years, despite various shocks, this sustainability has been effectively maintained through the implementation of prudent macroeconomic policies,” he concluded.
