YEREVAN, December 19. /ARKA/. Armenian Economy Minister Gevorg Papoyan noted that the country’s GDP will exceed 10 trillion drams by the end of 2024.
“If we achieve this figure, it will mean that the GDP will be 10 times higher than it was about 25 years ago (in 2000),” Papoyan said on Public Television of Armenia (PTA).
He also cited data for the previous two years: 9 trillion 453 billion drams in 2023 and 8 trillion 503 billion drams in 2022.
“Despite some slowdown in the global economy, particularly in European countries, it is important to note that our country continues to remain in the high economic growth zone. It should be noted that globally, economic growth of around 6% is considered high. However, our economy, our citizens, and we are accustomed to growth close to double-digit rates,” the minister said.
Regarding the structure of the economy, Papoyan highlighted growth in industrial production, agriculture (which is growing at a slower pace), as well as in the processing and food production sectors.
Economic Figures and Forecasts for Armenia
Economic growth in Armenia is projected at 7% in the 2024 state budget and 5.1% in the 2025 budget. According to the Central Bank’s monetary policy report for the fourth quarter of this year, Armenia’s GDP growth is expected to be 6% by the end of 2024, with forecasts for 2025 ranging from 7.1% to 4.8%, 4.7% to 7% in 2026, and 5% to 6.2% in 2027.-0-
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