The World Bank in Armenia

Armenia’s economy has undergone a profound conversion since independence. Sustained growth, ambitious reforms, as well as inflows of capital and remittances have created a market-oriented environment. However, the twin shocks of COVID-19 and geopolitical tensions impacted the economy significantly.

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February 2023

Monthly Economic Update

Economic growth eased to 12.9 percent (year on year), while Inflation decelerated to 8.1 percent. Growth in exports and imports remained strong.
Video

World Bank and Armenia

The video showcases the key milestones of the three-decade-long partnership.
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Armenia’s journey towards responsible mining

In 2015 Armenia joined the Extractive Industries Transparency Initiative. How did it help improve the Armenian mining industry?

Armenia At-A-Glance

Armenia experienced GDP growth of 11 percent during the first half of 2022 compared to the same period in 2021. This strong growth performance was mostly driven by growth in services, particularly tourism, finance, and IT. High demand, along with elevated international food and fuel commodity prices, pushed Inflation to 10.3 percent in June 2022, with food and fuel price increases accounting for two-thirds of total inflation. The budget balance has also fared better than expected. Along with strong economic performance, the budget revenue collection overperformed by 7 percent.

Overview

Country Data

Data

Projects in Armenia

Third Public Sector Modernization Project

The project development objective is to improve access to selected enhanced e-government services in Armenia.

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Research

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Armenia in Figures

Human Capital Index

The Human Capital Index quantifies the contribution of health and education to the productivity of the next generation of workers. Countries can use it to assess how much income they are foregoing because of human capital gaps, and how much faster they can turn these losses into gains if they act now.

Armenia Overview | In Armenian | Data