Another chance, Armenia? Could we extend the current economic boom?
Another chance, Armenia? Could we extend the current economic boom?
Posted by pride_of_artaxias
Another chance, Armenia? Could we extend the current economic boom?
Another chance, Armenia? Could we extend the current economic boom?
Posted by pride_of_artaxias
2 Comments
Surprisingly good and very in-depth positive look at Armenian economy.
Some of the conclusions:
>While it is possibly a surprise for most of Armenian patriots, the world practically knows little if anything about the achievements of contemporary Armenia. Most of the outsiders’ knowledge about the country boils down to the fact that Armenia is a country with an ancient culture, small and proud, but in the wrong neighborhood. This is not the kind of information that helps national businesses enter new markets and build new technology partnerships.
>We need to build a new image of Armenia as a regional technology center and regional island of freedom among the sea of tyranny. Armenia’s impressive progress in the Freedom House’s ratings serves as an important recognition of effective political liberalization and a valuable nation’s asset. Armenia is currently viewed as one of the regional leaders in the Global Freedom index (https://freedomhouse.org/country/armenia/freedom-world/2024). It is one out of only four countries in the Middle East and Central Asia which are characterized by the Freedom House as either Partly Free (Armenia, Georgia, and Lebanon) or Free (Israel). The Global Freedom score of Armenia improved from 45 out of 100 in 2018 to 54 in 2024. By another measure, the quality of its democracy (https://freedomhouse.org/country/armenia/nations-transit/2024), Armenia moved up from the group of countries with semi-consolidated authoritarian regimes (score 26 out of 100 in 2018) to the group with the hybrid regimes (score 35 in 2024).
In any case, recommended reading to all who are interested in Armenia’s economic development.
> Moreover, Armenia boasts a well-established entrepreneurial tradition, dating back to the time when Armenians were among the most active and sophisticated traders along the Silk Road.
I can share the overall optimism of this article but I’m sorry this sentence just doesn’t apply to the modern day Armenia. If we were so business-savvy we wouldn’t have been so poor by now.
Truth is, Armenia is still in its post-Soviet recovery period and it hasn’t fully recovered yet, far from it. The Soviet mentality which is the exact opposite of “entrepreneurial tradition” prevailed this whole time after the collapse of the USSR. We made one small step forward in the right direction only in 2018, but we still need a whole generation that will grow up and establish a different mentality in the society.
The “old” diaspora that is indeed a lot more business savvy and entrepreneurial could help the country but it is not helping for some reason.