Armenia leaving EAEU would reduce country's GDP growth 0.65 ppts - Ministry of Economy

YEREVAN. Nov 6 (Interfax) - Armenia's annual economic growth would decline 0.65 percentage points should the country leave the Eurasian Economic Union (EAEU), Armenian Minister of Economy Gevorg Papoyan said.

"If Armenia were to leave the EAEU, then the country's economic growth would decrease 0.65 ppts, assuming no other negative factors come into play," Papoyan told reporters on Friday.

Papoyan had previously said that a potential increase in the price of natural gas supplied to Armenia from Russia would have a significantly greater effect on the country's economy. According to forecasts, an increase would lead to a reduction in the rate of economic growth by at least 5 ppts.

Armenian Prime Minister Nikol Pashinyan last Thursday said that Yerevan does not intend to leave the EAEU, though the country does plan to submit an application for European Union membership in 2027-2028.

Armenia's GDP grew 7.2% in 2025. The federal budget projects GDP to rise 5.4% in 2026. The World Bank forecasts the country's GDP to grow 5.6% this year, and the International Monetary Fund and the European Bank for Reconstruction and Development project GDP to rise 5.5% this year.