Recently, the Armenian service of Radio Liberty analyzed Armenia’s economic growth, revealing that it was mainly driven by re-exporting European goods to Russia. In response, the French online publication, La Gazette du Caucase, questioned France’s stance on the issue, highlighting a conflict between Paris’ anti-re-export stance and its leniency towards Armenian re-export.
This economic strategy has led to a decline in tax revenues, with the Armenian State Revenue Committee collecting $300 million less than projected for 2024. This has deepened Armenia’s economic crisis, exacerbated by nationalist policies isolating the country from economic exchange with neighbors.
The article emphasizes the necessity for Armenia to normalize relations with Azerbaijan, as this could lead to economic recovery and participation in regional projects. It argues that peace with Baku is crucial for Armenia’s economic development, as it would enable access to transit and energy projects tied to Azerbaijan.
Ultimately, Armenia’s economic growth depends on fostering relations with its neighbors, particularly Azerbaijan. The question remains whether Paris will support Armenia’s pursuit of economic recovery through regional cooperation.