Finance Minister lauds 7.6% average growth rate over past five years

Over the past five years, the Armenian government has achieved an average economic growth of 7.6 percent, Finance Minister Vahe Hovhannisyan said in parliament.

“Based on the results of the past five years, we have recorded an average economic growth of 7.6 percent. I am pleased that the 5.4 percent GDP growth forecast for 2026 is no longer a sensation,” Hovhannisyan said during the debates of the 2026 state budget bill.

According to the minister, in line with the policies announced by the Armenian government, this economic growth has been inclusive. It has been accompanied by rising employment on one hand, and by wage growth significantly exceeding the rate of inflation on the other, as well as reductions in inequality and poverty levels.

“Based on 2024 results, the poverty rate has decreased by 2 percentage points, reaching 21.7 percent, while extreme poverty has fallen from 1.1 percent to 0.6 percent,” the minister said.