How the Pandemic Affected Armenian Economy and Public Finance
Introduction
2018 April events culminated in Serz Sargsyan stepping back from the power and the election of Nikol Pashinyan as the prime minister of Armenia by the ruling Republican Party under the pressure of street protests. The new Prime Minister (PM) promised reforms in the public sector, fight against corruption, fair justice system and new economic opportunities that he named economic revolution. During the first year of his term in the office the economic indicators went up slightly. In my opinion, this additional increase (compared to the previous forecasts) in the economy was largely the result of shadow economy uncovering to some degree, as the private sector and the public in large had positive expectations from the new Government.