Civil Contract won a majority with 49.8% in the June 2026 election and Pashinyan began a third term. The 2027 draft budget plans AMD 4.072tn in spending, with the social sector the largest share.
What a Korean company can do now
Government · leader
Prime Minister Nikol Pashinyan (head of government, reappointed 2 Aug 2026) / President Vahagn Khachaturyan (head of state)
Key national agenda
- Securing peace with Azerbaijan
- Reducing reliance on Russia and diversifying partnerships
- Normalising relations with Turkey
- Higher social protection and pension spending
- 5.8% growth forecast for 2027
Government programmes
2027 state budget (draft)AMD 4.072tn spending (proposed)
Revenue AMD 3.603tn, spending AMD 4.072tn, deficit AMD 468.2bn (59.9% external, 40.1% domestic financing)
Ministry of Labour and Social Affairs 2027AMD 1.084tn (proposed)
AMD 1.084tn for the ministry; pensions about AMD 674bn
Ministry of Defence 2027AMD 616.5bn (proposed)
AMD 616.5bn, of which AMD 613.8bn for combat readiness and border protection (single source)
Healthcare 2027AMD 348.1bn (proposed)
Healthcare spending of AMD 348.1bn (single source)
Business opportunities
AI automation for social benefit and pension administration
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Health insurance claims and review data platform
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Open this week
Consulting on ADB-financed projects
The Deputy PM discussed cooperation with an ADB Vice President on 28 Oct 2026.
Ministry of Finance, Ministry of Economy, ADB
PMO support for transport and logistics corridors
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Free members get a human-reviewed summary by email for up to 3 countries a month (sent within 24h). BUILD members get them all.
Korean support schemes
- KOICA grant aid · KOICA — Korea's grant aid agency; no Armenia project was confirmed in this review.
- EDCF concessional loans · Export-Import Bank of Korea — Infrastructure loan programme; no Armenia EDCF project was confirmed in this review.
Official notices
Government of the Republic of Armenia
- 2026-11-06 Deputy PM Grigoryan meets Kazakhstan's Deputy PM and Transport Minister
- 2026-11-05 Deputy PM receives head of ICAO's European and North Atlantic office
- 2026-11-03 Deputy PM attends the Eurasian Economic Commission Council
- 2026-10-28 Deputy PM receives an ADB Vice President's delegation
Disaster · conflict · epidemic
Stable 2026-11-07
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Earth & space
Credit rating · FX
S&P BB- (positive, 2026-02-20) / Moody's Ba3 (positive) / Fitch not confirmed · K-SURE Not confirmed · AMD 0.0%
Sanctions
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No country-level UN, US, EU, UK or Korean sanctions programme was found.
