Armenia's economic growth potential is estimated at 5-5.5% - Finance Minister
29.08.2026,
14:43
Armenia's economic growth potential is estimated at 5-5.5%, RA Finance Minister Vahe Hovhannisyan stated in an interview with Shant TV.
YEREVAN, August 29. /ARKA/. Armenia's economic growth potential is estimated at 5-5.5%, RA Finance Minister Vahe Hovhannisyan stated in an interview with Shant TV.
"According to our estimates, our growth potential has changed and increased in recent years. Previously, we said our growth potential was estimated at 4-4.5%, but now it is estimated at 5-5.5%," Hovhannisyan said.
The minister linked Armenia's economic growth potential to large investments in economic infrastructure, significant private sector investments in modernization, and investments in human capital development.
According to him, economic productivity is increasing, and the results of comprehensive investments in various areas will continue to be seen in the future.
Commenting on the government's new five-year program's target of 6% average economic growth, compared to the 7% target in the previous program, Hovhannisyan noted that he does not consider this a reduction in ambition.
"Economic growth of 6% after the growth we've seen over the past five years is quite ambitious," he stated, adding that this figure is based on realistic forecasts.
Hovhannisyan explained that in 2021, the government was primarily focused on economic recovery from the 2020 downturn and returning to its previous growth trajectory.
According to him, average economic growth for 2021-2026 was 7.9%, compared to the target of 7%, and the government's future plans are based on the results achieved.
The Finance Minister emphasized that the economy's base is already quite strong, so achieving 6% growth requires significant growth in nominal terms. .
"According to our estimates, our growth potential has changed and increased in recent years. Previously, we said our growth potential was estimated at 4-4.5%, but now it is estimated at 5-5.5%," Hovhannisyan said.
The minister linked Armenia's economic growth potential to large investments in economic infrastructure, significant private sector investments in modernization, and investments in human capital development.
According to him, economic productivity is increasing, and the results of comprehensive investments in various areas will continue to be seen in the future.
Commenting on the government's new five-year program's target of 6% average economic growth, compared to the 7% target in the previous program, Hovhannisyan noted that he does not consider this a reduction in ambition.
"Economic growth of 6% after the growth we've seen over the past five years is quite ambitious," he stated, adding that this figure is based on realistic forecasts.
Hovhannisyan explained that in 2021, the government was primarily focused on economic recovery from the 2020 downturn and returning to its previous growth trajectory.
According to him, average economic growth for 2021-2026 was 7.9%, compared to the target of 7%, and the government's future plans are based on the results achieved.
The Finance Minister emphasized that the economy's base is already quite strong, so achieving 6% growth requires significant growth in nominal terms. .
