44. Are there limits on traditional media advertising spending in relation to election campaigns?

"3. A political party running in the elections shall have the right to use for pay no more than 120 minutes of airtime on public television, and no more than 180 minutes of airtime on public radio at the account of its campaign fund.

4. In case of early elections or declaring elections of the National Assembly invalid and holding repeat voting, a political party running in the elections shall have the right to use free of charge no more than 30 minutes of airtime on public television, and no more than 60 minutes of airtime on public radio, and — at the account of the campaign fund — no more than 60 minutes of paid airtime on public television and no more than 90 minutes of paid airtime on public radio. During the second round of election of the National Assembly a political party running in the elections shall have the right to use free of charge no more than 20 minutes of airtime on public television, and no more than 40 minutes of airtime on public radio, and — at the account of the campaign fund — no more than 40 minutes of paid airtime on public television and no more than 60 minutes of paid airtime on public radio."

Source: Article 93 (3) and (4), Electoral Code of the Republic of Armenia, 2016

There are no monetary limits on traditional media advertising spending but the airtime a party/candidate can buy at the account of the campaign fund is limited.