Asian Development Bank (ADB) Country Director for Armenia Don Lambert has named four factors for the country’s economic growth in 2025.
YEREVAN, April 9. /ARКА/. Asian Development Bank (ADB) Country Director for Armenia Don Lambert has named four factors for the country’s economic growth in 2025.
“The main driver of economic growth will be domestic demand, in particular, in the areas of finance, construction, and trade. The second driver of growth will be an increase in public spending on infrastructure. If they are not implemented, there will be problems in terms of economic growth,” Lambert said on Wednesday, presenting the ADB’s April Asian Development Outlook 2025 report.
The third factor is external challenges, he said. “We are living in unusual economic times,” Lambert said, citing the tariffs introduced by U.S. President Donald Trump, the implementation of which “will lead to changes.”
As a fourth factor, he named geopolitical tensions around Armenia, the Russian-Ukrainian conflict, and the situation in the Middle East – from Iran to Israel and Palestine.
As for the impact of the outflow of Russian immigrants, Lambert does not consider it a serious factor influencing Armenia’s economic growth.
“For a country with a population of 3 million people, the number of Russian immigrants was small, most of them did not work,” Lambert said.
He expressed the opinion that economic growth could rather be due to remittances from Armenian labor migrants to their homeland.
Armenia’s economic growth is projected at 5.1% in the state budget for 2025. According to the Central Bank’s Monetary Policy Report for the first quarter of 2025, Armenia’s GDP growth is expected to be between 7-4.8% in 2025, 4.7-4.1% in 2026, and 4.7-6.1% in 2027.
The World Bank expects Armenia’s economy to grow by 5% in 2025, the IMF by 4.9%, and the EBRD by 4.8%.-0-
