Armenia Economy, Politics and GDP Growth Summary - The Economist Intelligence Unit
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In brief
The government of Nikol Pashinian has faced public discontent over its handling of the war with Azerbaijan, especially after his refusal to respond militarily to Azerbaijan's launch of air strikes on Nagorny Karabakh. However, a divided opposition has been unable to capitalise on dissent to garner support, and even though popular demonstrations will remain a feature of the political landscape, we expect the government to remain in power, buoyed by a pro-democracy drive following the "Velvet revolution" in 2018. Real GDP growth will remain robust in 2024-25, supported by strong domestic consumption, rising services exports and large net positive capital flows. After Azerbaijan's capture of Nagorny Karabakh, signing a peace agreement between Azerbaijan and Armenia will be a priority for 2024.
Read more: Skirmish on Armenian border delays peace treaty
Read more: Armenia raises prospect of leaving Russian-led CSTO
Economic growth
| (% unless otherwise indicated) | |||
| 2024 | 2025 | 2026 | |
|---|---|---|---|
| US GDP | 2.4 | 1.4 | 1.9 |
| Developed economies GDP | 1.6 | 1.5 | 1.6 |
| World GDP | 2.5 | 2.5 | 2.6 |
| World trade | 2.6 | 3.3 | 3.0 |
| Source: The Economist Intelligence Unit |
Expenditure on GDP
Private consumption
Government consumption
Gross fixed investment
Exports of goods & services
Imports of goods & services
Source: The Economist Intelligence Unit