President of Armenia: It will become more difficult to ensure further economic growth in Armenia

According to Armenian President Vahagn Khachaturyan, it will become more difficult to ensure further economic growth in Armenia, and the country needs to find additional resources.

Speaking at the international conference “Yerevan Dialogue 2026” on May 6, he said that Armenia’s economic development since 2018 has been closely linked to the fight against corruption, adding that this has been a key factor behind the country’s progress, News.Az reports, citing News.am.

He stated that the government continues efforts to make the economy and investment environment more attractive, but stressed that maintaining growth is now a greater challenge that requires regional cooperation. He described the South Caucasus as Armenia’s key resource, arguing that sustainable growth is not possible without closer regional economic ties.

Khachaturyan also called for normalization of relations in the region, noting that recent global events, including developments in the Middle East, demonstrated how unpredictable geopolitical crises can be.

He said Armenia’s banking system has been stable since the 1990s, although it still requires improvements in competitiveness and the development of capital markets. He added that stronger regional cooperation and joint projects could lead to lower financial service costs.

The president also pointed out that transport costs in the region are currently 25–30% higher than international averages, but said this gap is expected to decrease as regional integration deepens.

News.Az 

By Leyla Şirinova