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Armenia

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Country summary

Capital

Yerevan

Borders

Azerbaijan-proper 566 km, Azerbaijan-Naxcivan exclave 221 km, Georgia 164 km, Iran 35 km, Turkey 268 km

Government type

republic

Population

2,967,004 (July 2010 est.)[1]

Population growth

-0.03% (2010 est.)[1]

Life expectancy

72.68 years[1]

Unemployment

7.1% (2007 est.)[1]

Index of Economic Freedom

38[2]

Corruption Perceptions Index

120[3]

Doing Business ranking

43[4]


Armenia prides itself on being the first nation to formally adopt Christianity (early 4th century). Despite periods of autonomy, over the centuries Armenia came under the sway of various empires including the Roman, Byzantine, Arab, Persian, and Ottoman. During World War I in the western portion of Armenia, Ottoman Turkey instituted a policy of forced resettlement coupled with other harsh practices that resulted in an estimated 1 million Armenian deaths. The eastern area of Armenia was ceded by the Ottomans to Russia in 1828; this portion declared its independence in 1918, but was conquered by the Soviet Red Army in 1920. Armenian leaders remain preoccupied by the long conflict with Azerbaijan over Nagorno-Karabakh, a primarily Armenian-populated region, assigned to Soviet Azerbaijan in the 1920s by Moscow. Armenia and Azerbaijan began fighting over the area in 1988; the struggle escalated after both countries attained independence from the Soviet Union in 1991. By May 1994, when a cease-fire took hold, ethnic Armenian forces held not only Nagorno-Karabakh but also a significant portion of Azerbaijan proper. The economies of both sides have been hurt by their inability to make substantial progress toward a peaceful resolution. Turkey closed the common border with Armenia in 1994 because of the Armenian separatists' control of Nagorno-Karabakh and surrounding areas, further hampering Armenian economic growth. However, in 2009 senior Armenian leaders began pursuing rapprochement with Turkey, which could result in the border reopening.[1]

Economical characteristicsEdit

  • Currency: Dram (ISO code: AMD)
  • Central bank discount rate: 7.25% (2 December 2008)[1]
  • Commercial banks lending rate: 17.05% (31 December 2008)[1]
  • Stock of money (M1): $1.359 billion (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $950.1 million (31 December 2008)[1]


StatisticsEdit

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[5] 1 845 1 912 2 118 2 376 2 807 3 577 4 900 6 384 9 206 11 917
Govt. debt (% of GDP)[6]
Govt. revenue (% of GDP)[7] 17.726 18.198 19.305 19.763 21.385 22.372
Govt. expenses (% of GDP)[8] 16.415 16.956 18.146 17.148 17.042 20.688
Debt to revenue (years)

ReferencesEdit

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Facebook. "Armenia", from The World Facebook. Referenced 2010-09-30.
  2. Heritage Foundation. "Armenia", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  3. Transparency International. "Armenia", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-30.
  4. Doing Business. "Armenia", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  5. World Bank. "Armenia: GDP", from World Bank Data. Referenced 2010-09-30.
  6. World Bank. "Armenia: government debt", from World Bank Data. Referenced 2010-09-30.
  7. World Bank. "Armenia: government revenue", from World Bank Data. Referenced 2010-09-30.
  8. World Bank. "Armenia: government expenses", from World Bank Data. Referenced 2010-09-30.

External linksEdit

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