Armenia: Claims on central government (annual growth as % of broad money)

Key figures

What the numbers say

In 2025, Armenia's claims on central government (annual growth as % of broad money) fell 3.82 percentage points on 2024 (from 3.49% to -0.32%).

Across the 30 yearly changes before that (1995 to 2024), the average change was −7.2 percentage points and a typical year strayed about 40.9 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 25.43 percentage points in 1996 and the biggest yearly fall was 364.22 percentage points in 1994. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 there is no clear straight-line trend: a straight line explains 5% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, Armenia had the 73rd highest value of the 95 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Armenia in the 2025 ranking

• Ecuador — 70th of 95: -0.1%
• Brunei Darussalam — 71st of 95: -0.12%
• Australia — 72nd of 95: -0.29%
• St. Lucia — 74th of 95: -0.37%
• Bhutan — 75th of 95: -0.41%
• Dominican Republic — 76th of 95: -0.43%

What this measures

Claims on central government include loans to central government institutions net of deposits. Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. This indicator represents the annual percentage growth in the ratio of claims to broad money.

Limitations: Monetary accounts are derived from the balance sheets of financial institutions - the central bank, commercial banks, and nonbank financial intermediaries. Although these balance sheets are usually reliable, they are subject to errors of classification, valuation, and timing and to differences in accounting practices. For example, whether interest income is recorded on an accrual or a cash basis can make a substantial difference, as can the treatment of nonperforming assets. Valuation errors typically arise for foreign exchange transactions, particularly in countries with flexible exchange rates or in countries that have undergone currency devaluation during the reporting period.

All 33 values

Claims on central government (annual growth as % of broad money) in nearby economies

• Albania — 1.17% (2025)
• Azerbaijan — 8.4% (2025)
• Belarus — 5.17% (2021)
• Bosnia and Herzegovina — 2.17% (2025)
• Bulgaria — 2.86% (2024)
• Czechia — 3.46% (2024)
• Denmark — -2.83% (2024)
• Georgia — 1.17% (2025)
• Hungary

More financial sector data for Armenia

• GDP deflator (base year varies by country) — 144.93 (2025)
• GDP deflator, linked series (base year varies by country) — 144.93 (2025)
• DEC alternative conversion factor (LCU per US$) — US$387.01 (2025)
• Inflation, GDP deflator (annual % growth) — 3.57% (2025)
• Inflation, GDP deflator, linked series (annual % growth) — 3.57% (2025)
• Domestic credit to private sector by banks (% of GDP) — 68.68% (2025)
• Net domestic credit (current LCU) — 9.58 trillion (2025)
• Net foreign assets (current LCU) — 305.82 billion (2025)
• Monetary sector credit to private sector (% of GDP) — 70.35% (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Armenia's claims on central government (annual growth as % of broad money)?

-0.32% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1993?

It is down 584.07 percentage points from 583.75% in 1993. The highest value was 583.75% in 1993 and the lowest -13.17% in 1997.

How does Armenia rank?

73rd highest of 95 economies with data for 2025.

Is the latest change in claims on central government (annual growth as % of broad money) unusual for Armenia?

In 2025, Armenia's claims on central government (annual growth as % of broad money) fell 3.82 percentage points on 2024 (from 3.49% to -0.32%). Across the 30 yearly changes before that (1995 to 2024), the average change was −7.2 percentage points and a typical year strayed about 40.9 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator FM.AST.CGOV.ZG.M3, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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