News - Armenia Maintains Economic Resilience Amid Global Challenges

Armenia continues to demonstrate robust economic growth despite global uncertainties, as highlighted by Central Bank Deputy Chairman Armen Nurbekyan. Speaking at a parliamentary session, Nurbekyan cited significant fluctuations in global oil prices that have contributed to domestic price increases, although a recent decline in inflation has been noted. This strong economic trajectory is attributed to the positive development of internal factors, including rising demand and a growing influx of tourists, which have led to a substantial increase in foreign currency flows. The national budget for 2026 projects an economic growth rate of 5.4% for Armenia, with preliminary data from the first quarter of the current year indicating a GDP increase of 4% compared to the same period in the previous year. The Central Bank's monetary policy report for the first quarter highlights an expected GDP growth for 2026 in the range of 7.1% to 4.7%, depending on various scenarios. Further projections anticipate growth rates of 5.7% to 5.3% in 2027, and 4.9% to 5.2% in 2028. International financial institutions share optimistic forecasts for Armenia's economic outlook, with the Eurasian Development Bank, World Bank, International Monetary Fund, Asian Development Bank, and others anticipating growth rates exceeding 5% in 2026. These projections underscore a consistent expectation of economic resilience and prosperity for Armenia in the coming years.