News - Armenia economic growth at 9% in January-October 2024

The economic growth in Armenia was 9 percent in January-October 2024. Minister of Finance Vahe Hovhannisyan announced this during Monday’s debates on the 2025 state budget bill at the joint meeting of the standing committees of the National Assembly. According to Hovhannisyan, this is mainly due to the growth of such sectors as trade and industry. "The construction sector also contributed to the growth of economic activity in 2024," added Hovhannisyan. The finance minister noted that without taking into account Armenia’s processing industry—i.e., gold, the country’s economic growth rate would have been 4.8 percent instead of 5.6 percent in October, and economic activity would have been 4.6 percent instead of 9 percent in January-October.