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Eurasia
May 18, 2018 www.intellinews.com I Page 21
Putin told Pashinian Russia regarded Armenia as one of its closest allies in the region and wanted closer ties too.
“I want to wish you success in your post as head of the government,” said Putin. “I hope our rela- tions will develop as steadily as they have until now.”
The revolution in Armenia was much driven by concerns in the country of 2.9mn about flour- ishing corruption and cronyism. Pashinian has promised there will be no oligarchs in his cabinet and no monopolies permitted within the economy. Armenians hope a new era of economic open-
ness might attract investment from among the worldwide Armenian diaspora thought to number somewhere between seven million and 10 million people. As things stand, the country’s economic plight is seen as likely to cause many Armenians to leave for abroad in coming decades, perhaps cutting the population by around a third in the next 30 years.
According to World Bank Open Data, in 2016 GDP per capita income in Armenia reached $8,800 while it was $10,000 in Georgia and $17,200 in Azerbaijan. At 11.6% of GDP, remittances from Ar- menians working abroad are key to keeping many households afloat.
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