Armenia’s GDP grew 6,5% in six months, says economy minister

YEREVAN, NOVEMBER 13, ARMENPRESS. Armenia’s GDP grew 6,5% in the first half of the year, Minister of Economy Gevorg Papoyan has said.

“In the first half of 2024, Armenia’s GDP grew 6,5%. This growth is associated with the increase of added value in several branches of the economy,” he said at the 2025 government budget debates in parliament.

According to IMF projections, Armenia’s GDP growth in 2024 will amount to 6%, placing the country 17th among 190 countries. The average growth in the Baltics will be 0,5%, 0,8% in the Eurozone, and 4,6% in the Eurasian Economic Union countries.

“The numbers speak volumes, they show that the Armenian economy continues to be at the high growth phase and is successfully withstanding global challenges,” Papoyan said.

The government expects 5,8% economic growth by yearend.