Armenia's economy is returning to its potential growth rate - Central Bank head

YEREVAN, June 11. /ARKA/. Armenia's economy is returning to growth rates close to potential, said Martin Galstyan, head of the republic's Central Bank.

"There are certain points where, due to re-export, we naturally have negative indicators. We have repeatedly stated that we are returning to a normal state. That is, Armenia's economy is returning to growth rates that are close to its potential, and this is not a bad indicator, it is not a negative development," he said at a press conference the day before.

Answering the question about how the growth in the banking segment correlates with this situation, Galstyan said that the structure of banks' incomes has seen an increase in non-interest income

"According to our estimates, this growth in non-interest income will continue at least for this year, because in the conditions of global uncertainty - the Russian-Ukrainian conflict and so on - there will inevitably be jurisdictions or situations in which funds will seek stability and certainty," he explained.

At the same time, the head of the Central Bank expressed hope that the macroeconomic stability recorded in Armenia in recent years serves as tangible evidence that investors have accumulated a certain reserve of trust.

"We do not think that if events develop quickly, there will be an outflow of capital from the financial system of Armenia," he added.

Armenia's economic growth in the state budget for 2025 is envisaged at 5.1%. According to preliminary statistics, economic activity in Armenia registered a 4.4% growth in January-April 2025 compared to the first four months of 2024. At the end of 2024, economic activity growth was 8%. -0-