国际货币基金组织：2026年亚美尼亚共和国：根据备用安排进行首次审查报告（英文版）

Armenia’s economic performance surpassed expectations in 2025. Growth was higher than projected, supported by robust domestic demand. The fiscal primary balance exceeded the program target by a comfortable margin and headline inflation hovered around the central bank’s target before picking up early in 2026. The impact from the war in the Middle East is mostly contained, although trade disruptions and higher oil prices are expected to exert some pressure on inflation and the economy. Economic