Prime Minister Nikol Pashinyan visited the Ministry of Economy to discuss the ministry’s 2025 activity report.

Minister of Economy Gevorg Papoyan noted that 2025 was generally favorable for the economy. In January-September 2025, growth of 6.0% was recorded compared to the same period in 2024. At the same time, it was recorded that the average annual growth in 2021-2025 was about 8.13%, while the the Government had set 7% growth for 2021-2026. It was also noted that since 2018, the economy has grown by more than 50%, and GDP per capita has increased from 3.8 thousand US dollars in 2017 to 8.56 thousand US dollars in 2024.

In terms of economic activity, it was reported that in January-November 2025, compared to the same period in 2024, the economic activity index was 8.3%. Positive growth was recorded in industry (0.5%), services (10.9%), trade (3.0%) and construction (20.1%). In the agricultural sector, growth of 6.0% was recorded in January-September 2025, while a range of 5.0–6.0% is predicted for the annual indicator.

As for productivity, Minister Gevorg Papoyan noted that according to 2024 data, labour productivity in Armenia amounted to $10.3 per person/hour, increasing by more than 1.7 times compared to 2017. It was noted that if current trends continue, it is realistic to achieve the target of $12 per person/hour set for 2026.

 

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Official website of the Prime Minister of the Republic of Armenia