The international scientific seminar "Changes in the Potential of the Armenian Economy after 2020-2023" was held at RAU on October 15. Welcoming addresses were made by the rector of the Russian-Armenian University, Doctor of Economics of the Russian Federation and the Republic of Armenia, Professor Edvard Sandoyan and the director of the Institute of Economics of the Russian Academy of Sciences, Corresponding Member of the Russian Academy of Sciences, Doctor of Economics, Professor Mikhail Golovnin. The moderator of the event was the head of the Department of Economic Theory and Problems of the Economy in Transition at RAU Irina Petrosyan. 

 

Rector Edvard Sandoyan emphasized that if we consider the dynamics of the main macroeconomic indicators, in particular, the profitability of the financial sector and the banking system in recent years, and compare them with the events taking place since February 2022, several important aspects can be identified.

 

"We have new factors of economic growth, which, in my opinion, are not only unstable and unsustainable, but also toxic, which can be very dangerous. For example, what Irina Petrosyan does in her scientific work can be conventionally called "Dutch disease". Today, we are already at the epicenter of processes that can lead to this phenomenon," he emphasized. 

 

During the seminar, Professor Golovnin spoke about changes in the global economy and the directions of their interaction on the economy of Armenia. He emphasized that the reasons for changes in the global economy may be shifts in the world economic centers towards emerging market and developing countries, including China and India, an increase in inflation and a slowdown in economic growth, the spread of fragmentation processes, tightening conditions in global financial markets and an increase in the cost of servicing global debt, and the development of digitalization. 

 

The participants of the seminar discussed new factors and risks of economic growth in Armenia, key changes in the global economy and the directions of their impact on the economy of the Republic of Armenia, permanent and temporary factors of economic development in the Republic, a retrospective analysis of the impact of exogenous shocks on the economy of Armenia and many other issues. 

 

It should be noted that the scientific seminar was organized within the framework of the implementation of scientific project No. 24SSAH-5B038 "Macroeconomic assessment of changes in the potential of the Armenian economy in 2020 - 2023: opportunities and threats" with the financial support of the Committee of Higher Education and Science of the Republic of Armenia.

 

 

 

Translated by
Elen Davtyan