The gross accumulation of investments in Armenia's economy has exceeded $5 billion, significantly surpassing the levels of previous years, Minister of Economy Gevorg Papoyan announced during a press conference on January 13.
However, the minister emphasized that while the current investment level meets target benchmarks, it remains insufficient to ensure sustainable economic growth.
According to Papoyan, gross accumulation in Armenia has reached 20.9% of GDP—a figure comparable to Georgia’s 21.5% and approaching Ireland’s 23.2%, one of the world’s fastest-growing economies. For comparison, during the 2010s, investments ranged from $2.3 billion to $3 billion, peaking at $3.3 billion in 2018.
Regarding foreign direct investment (FDI), the minister highlighted its recovery after a prolonged decline between 2008 and 2020. While FDI stood at $250 million in 2017 and $180 million in 2018, it grew to $370 million in 2021, $980 million in 2022, and $580 million in 2023.
“To ensure stable economic growth, it is essential not only to maintain the current level of investment but to consistently increase it. We have set ambitious goals. Attracting new investments is the pathway to securing both financial and economic stability,” Papoyan underscored.
