Amulsar`s restart to positively impact Armenia`s GDP final growth in  2025 - Finance Minister

ArmInfo.  By the end of 2025, Armenia is projected to  reach the budgeted GDP growth rate of 5.1%. The launch of the Amulsar gold mine this year may also have a positive impact on this key indicator. Armenian Finance Minister Vahe  Hovhannisyan made this statement during a press conference, in response to a question  from ArmInfo about the feasibility of the financial authorities' economic growth predictions given the downward revisions in global economic growth forecasts.

 Earlier, the World Bank has revised its forecast for Armenia's GDP growth in 2025, lowering it from the previous 5% to an updated 4% (down from the actual 5.9% in 2024). The IMF has also updated its forecast from 4.9% to 4.5%, while the RA state budget projects a growth of 5.1%. As several economists told ArmInfo, the reopening of the Amulsar mine is seen as the only hope for the RA authorities to meet the growth target set in the state budget. 

"The launch of Amulsar can have a positive impact. If activities  start this year, then, according to our estimates, it could stimulate economic growth by 0.5%," the Minister said. Hovhannisyan also expressed confidence that economic growth in Armenia is returning to its potential figure, which he believes is 5% - 5.5%. However, even without considering the restart of the Amulsar project, all the parameters  included in the 2025 economic growth budget will still be achieved.    Hovhannisyan said.