ArmInfo. The Armenian economy continues to experience high growth and successfully withstand international challenges, as stated by Gevorg Papoyan, the Minister of Economy of Armenia, during his speech at the Parliament on November 13. In this regard, he referred to the indicators recorded in the first half of 2024, showing a 6.5% growth in Armenia's GDP. The Minister attributed this growth to an increase in added value in several sectors of the economy.
He also mentioned the IMF forecast, which predicts that Armenia's GDP growth will reach 6% in 2024, positioning the country in 17th place among 190 countries in this regard. To provide context, the head of the department pointed out that the average growth in the Baltic countries is projected to be 0.9%, in the eurozone - 0.8%, and in the EAEU countries - 4.6%. Additionally, he noted that economic growth is only valuable if it benefits all citizens, making it inclusive.
, said Papoyan.
He assured that in 2025, the Ministry of Economy will continue to facilitate the implementation of the goals of the government program. In this regard, Papoyan emphasized that the department's priorities are modernizing quality infrastructure systems, increasing productivity, attracting highly qualified specialists from outside, stimulating investment, and developing tourism and agriculture.
It should be noted that according to the September forecast of the Central Bank of Armenia, Armenia's GDP growth is projected to be between 6.5-5.8%. S&P Global Ratings anticipates a decrease in Armenia's GDP growth from 6.2% to 5.2% in 2024-2025. The IMF also predicts a slowdown in Armenia's GDP growth in 2024 to 6% and in 2025 to 5.3%. According to the WB forecast, Armenia's GDP growth is expected to decrease 5.5% in 2024 and 4.9% in 2025. The EBRD predicts Armenia's GDP growth of 6.2% in 2024, with a subsequent slowdown to 4.8% in 2025.
