YEREVAN, April 13. /ARKA/. In the first quarter of 2026, Yerevan’s budget recorded actual revenues of 22.3 billion drams, significantly surpassing the planned 20.8 billion drams for own revenues. This information was reported by Davit Hakobyan, acting head of the Revenue Accounting and Collection Department of the City Hall’s staff.
Yerevan’s Financial Performance Exceeds Expectations
“The performance was 107.2%, meaning the plan was overfulfilled by more than 1.4 billion drams,” Hakobyan stated during a working meeting at the City Hall on Monday. He also noted that compared to the same period last year, own revenues increased by more than 5.9 billion drams. However, the structure of this revenue growth was not specified during the meeting.
Budget Details for 2026
According to Yerevan’s approved budget for 2026, revenues are projected at 151.5 billion drams, expenditures at 156.8 billion drams, resulting in a deficit of 5.3 billion drams. The city’s own revenues are expected to amount to 94.8 billion drams ($1 is equal to 375.73 drams).
Context of Financial News in Armenia
This positive budget performance comes amidst other significant financial developments in Armenia. Unibank has recently received an international certificate for customer protection, affirming its compliance with global standards. Another notable initiative, “The Power of One Dram,” saw 5,131,381 drams accumulated in March directed towards the second, concluding phase of the “Symphonic Forest” concert.
Upcoming Changes in Currency Circulation
The Central Bank has announced that as of April 15, 2026, several second-generation banknotes will be withdrawn from circulation due to natural wear and tear. Unibank has also launched a “Invite your friends and get a bonus” referral campaign for salary cardholders. Meanwhile, IDBank has issued a warning about social media scams exploiting trust among relatives, a prevalent issue in Armenia.
Banking Sector Performance
The net loan portfolio of Armenian banks saw a significant increase of 29.89% in Q3 2025, reaching 7.2 trillion drams compared to the same quarter in 2024. ARKA agency published a rating of the most profitable commercial banks in Armenia based on Q3 2025 results. In Q2 2025, the net loan portfolio of Armenian banks grew by 6.11% to 6.8 trillion drams compared to Q1 of the same year. Moody’s Ratings, an international rating agency, upgraded Converse Bank’s long-term bank deposit ratings in national and foreign currencies from B1 to Ba3.
Economic Highlights and Inflation Concerns
Armbanks Weekly Digest for April 6-12 highlighted key events in Armenia’s financial market, including statements by the Central Bank leadership on macroeconomic risks, estimates of the inflationary impact of external shocks, discussions on stablecoins, and the development of regional payment infrastructures. The Deputy Chairman of the Central Bank cited three reasons for an increase in inflation in Armenia due to the “Iranian shock,” estimating an increase of 1.2-1.7 percentage points. He also noted that Armenia’s risk premium is at a historical minimum, and capital outflow observed in developing markets has not been recorded in Armenia. In March, inflation in Armenia was 4.5%, with a 0.7% increase compared to February. The Chairman of the Central Bank discussed the implementation of structural benchmarks set by the IMF with the IMF mission.
Capital Market Insights
Anna Ghazaryan, Head of Stock Analysis at “Sirius Capital,” discussed in an interview with ARKA agency how structural shifts are shaping global markets and their impact on Armenia, as well as expectations for the capital market. The Ministry of Economy considers regular and comparable disclosure of issuer information as a key condition for the further deepening of the capital market. Eva Balasanyan, founder and managing partner of NABIX, spoke about the changing level of automation in Armenia’s financial sector, obstacles to the development of digital assets and tokenization, and potential growth solutions. Hovak Hovakimyan, Director of Freedom Broker Armenia, discussed investment behavior trends in 2025, which sectors of the market could be breakthrough in 2026, and challenges facing Armenia’s capital market. The interest in financial markets in Armenia is growing, with more people considering how to build long-term capital.
Source: https://armbanks.am/hy/2026/04/13/272126/
