International Monetary Fund Revises Upward its Projections for Armenia’s Economic Growth

NEW YORK — The International Monetary Fund (IMF) anticipates that Armenia’s economy will expand by 4.8% by the conclusion of 2025, as detailed in its October World Economic Outlook report.

In a comparable report issued in April of this year, the IMF had estimated a 4.5% growth rate for Armenia’s economy in 2025.

The latest report further indicates that economic growth in Armenia for 2026 is expected to be 4.9%, an increase from the April report’s forecast of 4.5%.

IMF analysts also project that inflation in Armenia will reach 3.3% in 2025, subsequently decreasing to 2.8% in 2026.

The economic growth rate for Armenia is anticipated to be 5.1% according to the 2025 state budget. The Central Bank’s monetary policy report for the third quarter of this year predicts that Armenia’s GDP growth will be between 5.8% and 5.7% by the end of 2025, between 5.7% and 6.2% in 2026, and between 5% and 6.3% in 2027, depending on various scenarios.

The Eurasian Development Bank (EDB) forecasts a GDP growth of 5.5% for Armenia in 2025. The World Bank projects a 5.2% growth, the EBRD at 5%, and the ADB a 6% growth.

According to Fitch Ratings, Armenia’s economic growth in 2025 is expected to be 4.9%, whereas the UN anticipates a growth of 5.2%.