Armenia is experiencing stable economic growth and low, manageable inflation – Martin Galstyan
26.09.2025,
10:06
Central Bank of Armenia Chairman Martin Galstyan described the country's economic situation as "quite good."
YEREVAN, September 26. /ARKA/. Central Bank of Armenia Chairman Martin Galstyan described the country's economic situation as "quite good."
"Unlike the United States and other partner countries, we are at a point where we have had high, stable economic growth in recent years, and this growth is currently continuing, along with low, manageable inflation," he said on Armenian Public Television.
According to Galstyan, the economic growth figures for the second quarter and economic activity as of August are primarily driven by growth in the services and construction sectors.
"At the same time, our inflation is quite close to the target of 3.6% (12-month inflation in August – ed.). "According to our estimates, there was a certain increase in inflation due to supply-side factors, but this (situation) will recover, and we will be close to our target," he noted.
According to Armstat, Armenia's GDP in the second quarter of 2025 registered growth of 5.9% compared to the same period in 2024, and economic activity in Armenia in January-August of this year grew by 7.1% compared to January-August 2024.
Economic and Inflation Figures and Forecasts
Armenia's 2025 state budget projects economic growth at 5.1%, and inflation at 3% (±1%). According to the Central Bank's monetary policy report for the third quarter of this year, by the end of 2025, Armenia's GDP growth is expected to be 5.8-5.7%, depending on the scenario (A-B), in 2026 - 5.7-6.2%, in 2027 - 5-6.3%, and inflation - 4.1-3.7% in 2025, 3.7-3.2% in 2026, and 3% in 2026.
"Unlike the United States and other partner countries, we are at a point where we have had high, stable economic growth in recent years, and this growth is currently continuing, along with low, manageable inflation," he said on Armenian Public Television.
According to Galstyan, the economic growth figures for the second quarter and economic activity as of August are primarily driven by growth in the services and construction sectors.
"At the same time, our inflation is quite close to the target of 3.6% (12-month inflation in August – ed.). "According to our estimates, there was a certain increase in inflation due to supply-side factors, but this (situation) will recover, and we will be close to our target," he noted.
According to Armstat, Armenia's GDP in the second quarter of 2025 registered growth of 5.9% compared to the same period in 2024, and economic activity in Armenia in January-August of this year grew by 7.1% compared to January-August 2024.
Economic and Inflation Figures and Forecasts
Armenia's 2025 state budget projects economic growth at 5.1%, and inflation at 3% (±1%). According to the Central Bank's monetary policy report for the third quarter of this year, by the end of 2025, Armenia's GDP growth is expected to be 5.8-5.7%, depending on the scenario (A-B), in 2026 - 5.7-6.2%, in 2027 - 5-6.3%, and inflation - 4.1-3.7% in 2025, 3.7-3.2% in 2026, and 3% in 2026.
