Armenia’s public debt burden, or the debt-to-GDP ratio, has decreased by 10 percent compared with 2017, Economy Minister Gevorg Papoyan wrote on his Facebook page.
He added that although the state debt has increased in absolute terms, its servicing has become easier.
“Debt, debt, debt… something that has been widely discussed in Armenia recently. So has Armenia’s public debt increased or decreased? In 2017, Armenia’s public debt amounted to 59 percent of our GDP, whereas in 2025 it stands at 49 percent of our GDP. This means our public debt burden has decreased. In other words, although the public debt has grown in absolute figures, servicing it has become easier, and as a burden for our state and the Armenian people, it has become smaller,” he said in a video.
He also gave an example of two families.
“One has a monthly income of only 200,000 drams and no loans or debt, while the other has $100 million and a $20 million loan. Which family lives better? Of course, the second. Therefore, the absolute size of the debt is not what matters; what matters is what share it occupies in your income, and in Armenia’s income structure, our debt volume has declined,” the minister said.
In 2025, Armenia’s gross domestic product amounted to 11 trillion 317 billion 508.7 million drams, marking a 7.18 percent increase compared with 2024. This is stated in the Statistical Committee’s report titled “Annual preliminary data on gross domestic product (GDP) for 2025.” GDP per capita in 2025 stood at 3 million 666.5 thousand drams.
