S&P: Armenia's economy could grow by 5.3% in 2026 and 4.8% in 2027
23.02.2026,
11:18
The international rating agency S&P Global Ratings forecasts Armenia's real GDP growth to be 5.3% this year and 4.8% in 2027.
YEREVAN, February 23. /ARKA/. The international rating agency S&P Global Ratings forecasts Armenia's real GDP growth to be 5.3% this year and 4.8% in 2027.
"Armenia's average economic growth rate in 2022-2025 was a strong 7.8%, one of the highest growth rates among the 143 countries we assess," the agency's review states.
It notes that weaker growth in the medium term reflects expectations that growth factors related to re-exports from Russia, as well as the influx of labor and capital, will continue to slow. "We expect growth to remain primarily driven by consumption and private investment, supported by robust labor market conditions, improving real incomes amid slowing inflation and favorable lending conditions, as well as continued investment in construction and services," the report says.
Armenian Economic Figures and Forecasts
Armenia's economic growth is projected at 5.4% in the 2026 state budget. According to the Central Bank's monetary policy report for the fourth quarter of last year, Armenia's GDP growth is expected to be 6.3-4.1% by the end of 2026, depending on scenario (A-B), and 4.9-5.3% in 2027.
Armenian economic growth forecasts from international financial institutions for 2026: EDB - 5.3%; WB - 4.9%; IMF - 5.5%; EBRD – 4.5%, Fitch Ratings – above 5% (for 2026-2027).
"Armenia's average economic growth rate in 2022-2025 was a strong 7.8%, one of the highest growth rates among the 143 countries we assess," the agency's review states.
It notes that weaker growth in the medium term reflects expectations that growth factors related to re-exports from Russia, as well as the influx of labor and capital, will continue to slow. "We expect growth to remain primarily driven by consumption and private investment, supported by robust labor market conditions, improving real incomes amid slowing inflation and favorable lending conditions, as well as continued investment in construction and services," the report says.
Armenian Economic Figures and Forecasts
Armenia's economic growth is projected at 5.4% in the 2026 state budget. According to the Central Bank's monetary policy report for the fourth quarter of last year, Armenia's GDP growth is expected to be 6.3-4.1% by the end of 2026, depending on scenario (A-B), and 4.9-5.3% in 2027.
Armenian economic growth forecasts from international financial institutions for 2026: EDB - 5.3%; WB - 4.9%; IMF - 5.5%; EBRD – 4.5%, Fitch Ratings – above 5% (for 2026-2027).
