Due to the war in Ukraine, the International Monetary Fund has revised its forecast for Armenia's economic growth rate for 2022, setting it at 1.5%.

The external position strengthened, especially in 2021, as the current account deficit narrowed during the pandemic, remittances remained high, and international reserves replenished. The banking system remained liquid with adequate capital, and asset quality improved.

A wide range of sanctions against Russia will lead to higher inflation and slower economic growth. Although there is considerable uncertainty about the extent of the impact of processes on Armenia, as the situation is still evolving, nevertheless, in 2022, the Armenian economy will show growth.