YEREVAN, October 6. /ARKA/. The Armenian government aims to ensure an average annual economic growth rate of 6% over the next five years, Prime Minister Nikol Pashinyan stated.
“Over the previous five years, we planned to achieve an average annual economic growth rate of 7% in Armenia, and we actually delivered an average growth of 7.9%,” he noted while speaking at the Armenian-British business forum in Yerevan on Tuesday.
According to Pashinyan, Armenia’s real GDP grew by approximately 53% in total between 2018 and 2025, despite the economic downturn during the COVID-19 pandemic.
Armenia’s economic forecasts
Armenia’s draft state budget for 2027 projects economic growth at 5.8%. Under the government’s program targets, average annual economic growth is projected at 6% for the medium-term period of 2027–2029.
The World Bank forecasts Armenia’s economic growth at 5.3% in 2026 and 5.1% in 2027; the International Monetary Fund projects 5.25% in 2026; and the Asian Development Bank forecasts 5% in 2026 and 5.5% in 2027. The Eurasian Development Bank expects Armenia’s GDP to grow by 6% in 2026 and 5.7% in 2027. S&P Global Ratings forecasts Armenia’s economic growth at 4.9% in 2026 and an average of 5% in 2027–2029, while Fitch Ratings projects 5.2% growth in 2026 and approximately 5% in the medium term.
