Armenia at its 'peak of prosperity', Pashinyan claims

At today’s cabinet meeting, Prime Minister Nikol Pashinyan announced that Armenia has reached its "peak of prosperity”, pointing to strong growth in both bank deposits and loans since 2017.

According to the prime minister, deposits and bank accounts belonging to Armenian residents increased by 141% over the past eight years.

Central Bank President Martin Galstyan said the increase applies to both individuals and businesses.

Personal deposits grew by 125%, while corporate deposits expanded by 175%. Lending has also surged, with the volume of loans to residents climbing by 173%, from 2.3 trillion drams in 2017 to 6.4 trillion drams in 2025.

“Of course, some may argue this means people have taken on more debt,” Pashinyan acknowledged.

He added that the growth has been recorded across multiple sectors except industry.