Armenia's Finance Minister Assesses the Risks and Impact of AI on Economic Growth
16.06.2026,
11:51
Artificial intelligence can have a positive impact on economic growth, but its implementation is also associated with certain risks, Armenian Finance Minister Vahe Hovhannisyan stated in his address to parliament on Tuesday.
YEREVAN, June 16. /ARKA/. Artificial intelligence can have a positive impact on economic growth, but its implementation is also associated with certain risks, Armenian Finance Minister Vahe Hovhannisyan stated in his address to parliament on Tuesday.
"This issue is being widely discussed internationally, and many countries are currently actively working on it," Hovhannisyan said during a discussion of the 2025 state budget performance report, responding to a question about the possible impact of AI on Armenia's GDP growth and expansion of the tax base.
According to the minister, international expert estimates suggest that the implementation of artificial intelligence could provide additional GDP growth of approximately 0.8-1 percentage point.
Hovhannisyan also pointed to potential risk factors for the labor market. He noted that the development of AI could impact existing jobs, but at the same time create opportunities for new types of employment.
Armenian Economic Figures and Forecasts
The 2026 state budget projects 5.4% economic growth for Armenia. According to preliminary statistics, Armenia's GDP grew by 4% in the first quarter of this year compared to January-March 2025.
According to the Central Bank's monetary policy report for the first quarter of this year, Armenia's GDP growth is expected to be 7.1-4.7% by the end of 2026, 5.7-5.3% in 2027, and 4.9-5.2% in 2028, depending on scenario (A-B).
Armenian economic growth forecasts from international financial institutions for 2026: EDB - 5.3%; WB - 5.3%; IMF - 5.25%; ADB - 5.5%; EBRD - 5.5%; S&P Global Ratings - 5.3%. Fitch Ratings – above 5% (for 2026-2027).
"This issue is being widely discussed internationally, and many countries are currently actively working on it," Hovhannisyan said during a discussion of the 2025 state budget performance report, responding to a question about the possible impact of AI on Armenia's GDP growth and expansion of the tax base.
According to the minister, international expert estimates suggest that the implementation of artificial intelligence could provide additional GDP growth of approximately 0.8-1 percentage point.
Hovhannisyan also pointed to potential risk factors for the labor market. He noted that the development of AI could impact existing jobs, but at the same time create opportunities for new types of employment.
Armenian Economic Figures and Forecasts
The 2026 state budget projects 5.4% economic growth for Armenia. According to preliminary statistics, Armenia's GDP grew by 4% in the first quarter of this year compared to January-March 2025.
According to the Central Bank's monetary policy report for the first quarter of this year, Armenia's GDP growth is expected to be 7.1-4.7% by the end of 2026, 5.7-5.3% in 2027, and 4.9-5.2% in 2028, depending on scenario (A-B).
Armenian economic growth forecasts from international financial institutions for 2026: EDB - 5.3%; WB - 5.3%; IMF - 5.25%; ADB - 5.5%; EBRD - 5.5%; S&P Global Ratings - 5.3%. Fitch Ratings – above 5% (for 2026-2027).
