Economic activity in Armenia slowed in February, but growth remained stable, driven by two sectors – WB
20.04.2026,
15:18
Economic activity in February moderated to 7.2 percent from 7.6 percent in January. This is stated in the World Bank’s review “Armenia Monthly Economic Update – April 2026”.
YEREVAN, April 20. /ARKA/. Economic activity in February moderated to 7.2 percent from 7.6 percent in January. This is stated in the World Bank’s review “Armenia Monthly Economic Update – April 2026”. Growth remained strong, supported by robust double digit expansion in industry (23.8 percent, yoy) and construction (21.8 percent, yoy).
Within industry, mining and manufacturing grew 67 percent (yoy) and 23.8 percent (yoy), respectively, whereas electricity and energy contracted 4.5 percent (yoy).The sharp increase in mining largely reflects a low base effect, following a contraction in mining activities in the first two months of last year.
Growth in non-trade services and trade stood at 7 and 5.6 percen
‘’The number of registered businesses grew robustly by 21.6 percent (yoy) in February, driven mainly by a 31.1 percent rise in LLCs’’, the report says.
Armenian Economic Figures and Forecasts
The 2026 state budget projects 5.4% economic growth for Armenia. According to the Central Bank's monetary policy report for the first quarter of this year, 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 scenarios (A-B).
International financial institutions' economic growth forecasts for Armenia for 2026: EDB - 5.3%; WB - 5.3%; IMF - 5.3%; ADB - 5.5%; EBRD - 5.5%; S&P Global Ratings - 5.3%; Fitch Ratings - above 5% (for 2026-2027).
Within industry, mining and manufacturing grew 67 percent (yoy) and 23.8 percent (yoy), respectively, whereas electricity and energy contracted 4.5 percent (yoy).The sharp increase in mining largely reflects a low base effect, following a contraction in mining activities in the first two months of last year.
Growth in non-trade services and trade stood at 7 and 5.6 percen
‘’The number of registered businesses grew robustly by 21.6 percent (yoy) in February, driven mainly by a 31.1 percent rise in LLCs’’, the report says.
Armenian Economic Figures and Forecasts
The 2026 state budget projects 5.4% economic growth for Armenia. According to the Central Bank's monetary policy report for the first quarter of this year, 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 scenarios (A-B).
International financial institutions' economic growth forecasts for Armenia for 2026: EDB - 5.3%; WB - 5.3%; IMF - 5.3%; ADB - 5.5%; EBRD - 5.5%; S&P Global Ratings - 5.3%; Fitch Ratings - above 5% (for 2026-2027).
