Author: Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS

Candidate for Congress John Armenian Met with Constituents

Emil Lazarian

· MARCH 27, 2026


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Samvel Karapetyan decided to leave his quiet life, go under this and change, and

Emil Lazarian

March: 27, 2026

Members of the “Strong Armenia” party were on a working visit to Syunik Marz yesterday.

The first stop was the city of Sisian, where the party members met with supporters of the party’s Sisian community.

During the meeting, Narek Karapetyan, a member of the board of the “Strong Armenia” party, presented the economic and security plans of the party’s chairman, Samvel Karapetyan, as well as the reasons for Samvel Karapetyan’s entry into politics.

“Having an alternative to just live a quiet life, Samvel Karapetyan decided not to live a quiet life, to go under it and try to change it and he will change it.” Other, other power, if you see it, tell me who can lift Armenia out of poverty. Who has the experience to lift Armenia out of poverty? There is no one who has an economic background, who has worked with tens of thousands of people, who knows how to overcome that poverty.”

Narek Karapetyan, speaking about the path taken by the chairman of the party, Samvel Karapetyan, noted that the chairman of the party has traveled the same path in different countries of the world. It is not that he succeeded in one country, Samvel Karapetyan has his economic units in three or four countries. Narek Karapetyan stressed that Samvel Karapetyan invests his potential for the development of Armenia and does not have and cannot have any other motivation than the development of Armenia, because being financially secure, he will be the only leader of Armenia who will not need anything after coming to power.

During the meeting, economic, security, social, educational and a number of other issues, as well as the challenges of balanced development of communities, were also addressed.

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The revived “Diesel case” will examine the evidence

Emil Lazarian

March: 27, 2026

Today, the Anti-Corruption Court, under the leadership of Judge Givi Hovhannisyan, is conducting another court session with joint criminal proceedings.

The case of the so-called “Diesel”, the resurrected fake, by which President Serzh Sargsyan was already acquitted once, is being investigated.

Let’s remind that the powers of judge Vahe Misakyan in that case have already been terminated under another pretext.

At the beginning of the previous court session, procedural issues were examined: objections, objections, and then the issue of property liability was discussed. The public prosecutor presented the content of the claim.

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Expressing his position, Serzh Sargsyan’s defense attorney Amram Makinyan said that the Appellate Court did not doubt the innocence of President Serzh Sargsyan, and the materials of this case were collected in violation of criminal law.

Judge Givi Hovhannisyan recognized Serzh Sargsyan and the other two defendants as property managers.

At the beginning of today’s court session, defense attorney Amram Makinyan reminded the court again that during the preparation of materials, the deadlines for initiating the case were violated, and this was recorded by the Court of Appeal.

“During the new examination of the case, the Anti-corruption Court should examine whether the 2013 Sergo Karapetyan acted according to the relevant decision of the government. This needs to be cleared up no matter what. The appeals court did not doubt the innocence of President Serzh Sargsyan in any way. And this circumstance does not give Mr. President the opportunity to submit a property claim,” said Amram Makinyan.

After listening to the parties, the court decided to give the final solution to the property claim with a final judicial act.

Next, the court moved to the stage of examination of the evidence, the order and order of their examination.

The public prosecutors presented their order of sifting the evidence. Expressing his position, Amram Makinyan said that there were no proofs in what was listed, they were data on the economic activities of various companies, various banking secrets.

Next, the accused were asked if they confirmed their intention to be questioned.

“I can’t say. rather, no, but according to the situation, I will understand,” said Serzh Sargsyan.

The answer of Barsegh Beglaryan, the owner of “Flash” company, was similar.

The court session was postponed. The next court session will take place in 2026. May 12 at 3:30 p.m.

Details in the video.




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Why was Gagik Hambaryan called to the Investigative Committee? Varazdat Harutyunyan m

Emil Lazarian

March: 27, 2026

According to 168.am, Gagik Hambaryan, political scientist from Gyumri, lecturer at Shirak State University, was invited to the Investigative Committee today.

His representative, a member of the “Five Human Rights Defenders Initiative”, lawyer Varazdat Harutyunyan, confirmed the information in a conversation with us, noting that Gagik Hambaryan, a “bastion of democracy” in Armenia, was charged under the 2nd part of Article 490 of the RA Criminal Code, namely:

The threat to publish defamatory information about a judge, prosecutor, investigator, head of an investigative body, investigative body, lawyer, representative, expert, or enforcer, or a close relative or close relative of the specified persons, or someone under the supervision, care, or upbringing of the specified persons, or causing other harm to the rights and legal interests of the specified persons, or to use violence against them, to destroy or damage property, in connection with the legal service or professional activities of the specified persons or exclusively as a judge, prosecutor, investigator, investigator head of the body, investigative body, lawyer, representative, expert or enforcer or a close relative of the said persons or a close relative or the said persons with the circumstance of being under the upbringing, care or supervision,

shall be punished by a fine in the amount of ten times to thirty times, or public works for a period of one hundred to two hundred hours, or restriction of freedom for a maximum period of two years, or short-term imprisonment for a maximum period of two months, or imprisonment for a maximum period of three years.

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2. Publishing defamatory information about the persons provided for in part 1 of this article or causing other damage to the rights and legal interests of the said persons, or destroying or damaging the property of the said persons, in connection with the legal official or professional activities of the said persons:

shall be punished by restriction of freedom for a period of one to three years, or short-term imprisonment for a period of one to two months, or imprisonment for a period of two to five years.

By the way, this is the same article that is currently being investigated in the court regarding public-politician Edgar Ghazaryan.

“Keeping in mind that we were warned about the inadmissibility of publishing the pre-trial secret and we don’t want to touch on the content of the accusation, but I should mention that, naturally, Mr. Hambaryan did not accept the accusation. A ban on his absence was imposed on him, and the publication that is the basis of the accusation, for which Gagik Hambaryan was charged, in my opinion, fully fits into the framework of the fundamental right of a person to express himself freely, which is protected both by our Constitution and by the European Convention on Human Rights, regarding which there are also a number of precedent decisions of the ECHR.”said Varazdat Harutyunyan.

According to him, unfortunately, these decisions are often about our neighboring countries, Turkey and Azerbaijan, where the level of freedom of speech is quite low, and sharp criticism of one or another official is often persecuted in those countries.

“It is with pain that we have to record that Armenia has, in fact, taken the same benchmark in terms of restrictions on freedom of speech.” said Varazdat Harutyunyan, adding that additional information will be provided in case of developments in this case.

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RFE/RL – Chechen Woman Buried In Armenia Months After Suspected ‘Honor Killing

Emil Lazarian
March 27, 2026


Chechen woman Aishat Baymuradova, who was killed in Yerevan in October 2025, was buried in Yerevan on March 27, 2026.

A Chechen woman who was found dead in Armenia last year in what activists describe as a likely “honor killing” has been laid to rest in Yerevan five months after her death, Armenian authorities said.

Aishat Baymuradova, 23, was buried in the Armenian capital with state funding after her funeral was organized by a local nongovernmental organization, according to Armenia’s Investigative Committee. Her body had remained in Yerevan for months after no relatives came to collect it, despite repeated notifications sent to the Russian Federation. Baymuradova is survived by a young son, who reportedly remains with his father in Chechnya.

Baymuradova was found dead in a rented apartment on October 20, three days after she was reported missing. Human rights activists say the woman, who had fled the Russian Federation’s Chechen Republic to Armenia about a year earlier to escape domestic violence, was likely strangled.

Activists have described the killing as a suspected transnational “honor crime” and have pointed to possible involvement by individuals linked to Chechen security structures.

Aishat Baymuradova

In the months following the killing, activists criticized Armenian law enforcement bodies for what they described as delays in the investigation and a failure to prevent suspects from leaving the country.

About four months after the incident, Armenian authorities identified two Russian citizens, Karina Iminova and Said-Hamzat Baysarov, as suspects in the murder and placed them on a wanted list.

Armenian and Russian human rights groups say the two suspects have ties to the regime of Chechen leader Ramzan Kadyrov.

Artur Sakunts, head of the Vanadzor-based Helsinki Citizens’ Assembly, said such links are visible in open sources. “Direct ties of the suspects in Aishat’s murder are evident at least through social media,” Sakunts told RFE/RL’s Armenian Service.

He also said that criminal cases previously initiated against the suspects in Russia were later suspended. According to Sakunts, Baysarov had been accused of financing the Islamic State terrorist organization, while Iminova had been accused of threatening to kill another person with a knife. Neither case resulted in accountability, he said.

Sakunts suggested that in such cases, criminal prosecution can be used as a mechanism to control or recruit individuals.

Earlier accounts by activists indicated that Baymuradova had been lured to the apartment shortly before her disappearance after meeting individuals she had contacted online, including a woman allegedly linked to people close to Kadyrov. Security camera footage reportedly showed several people entering the building that evening, including a Chechen man.

Activists have said the case may be the first known instance of a Chechen woman being killed abroad after fleeing domestic abuse. In many other “honor killing” cases, they say, women are tracked down and returned to Chechnya, where they are later killed.

Baymuradova was reportedly forced into marriage at 20 to a 29-year-old man she had met only a few times. Friends said she suffered physical abuse, was monitored by cameras inside her home, and was often locked indoors without access to her phone.

According to Armenian authorities, Baymuradova had not formally sought protection in Armenia or informed them or local nongovernmental organizations that she had fled Chechnya because of domestic violence.

The Chechen woman’s case echoes that of Fatima Zurabova, a 21-year-old woman from the Russian Federation’s Republic of Ingushetia who fled to Armenia in 2024 after alleged domestic abuse.

Zurabova’s relatives, including a senior police official, reportedly traveled to Yerevan to try to persuade her to return, but she later relocated to a third country.

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Sports: Regis Le Bris assesses Finn Geragusian after Armenia senior call-up

Emil Lazarian
One Football
Mar 27 2026

Regis Le Bris assesses Finn Geragusian after Armenia senior call-up

Sunderland head coach Regis Le Bris has offered his view on Finn Geragusian after the teenager received a first senior Armenia call-up.

According to Sunderland Echo, the striker is yet to debut for the Black Cats. His form for the U18s and U21s has earned selection for friendlies against the United Arab Emirates and Belarus under head coach Yegishe Melikyan.

Geragusian said the news felt unbelievable, that he is proud to represent his country and family, and that the experience with new coaches could add attributes to his game.

Melikyan said the call-up would help assess him in senior football and clarify his future with the national team. He praised the youngster s qualities and fit, but noted he is very young, has not played senior football and is not ready yet. He added that a shortage in attack means every option is being considered and he is not satisfied with his current strikers.

At club level, Geragusian travelled with the first-team squad for FA Cup ties against Oxford United and Port Vale earlier this year, and was named on the bench against the latter. He still awaits his senior debut on Wearside, though Le Bris is pleased with his recent progress.

Le Bris said he appreciated the forward s profile after several training sessions, describing him as a good lad aligned with the region and club, physically strong and well-rounded, but still in need of experience and improvement.

This season he has 13 goals and three assists across 27 appearances in all competitions for the U18s and U21s. In Premier League 2 he has three goals and two assists in 10 games, averaging a contribution every other match.

Source: Sunderland Echo

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Under threat of dying out, Turkish Armenian evolves through art

Emil Lazarian
Mar 27 2026

  • Burcin GERCEK AFP

Once spoken by two million people across the Ottoman Empire, Turkish Armenian has shrunk to the point of becoming an endangered language following a century marked by massacres and mass emigration.

Yet defenders of Western Armenian, a language essentially spoken only by Turkey’s now-miniscule Armenian minority, are refusing to let their native tongue become a historical curiosity. 

“We live within this language; our very existence is intimately bound up with it,” said Vahakn Keshishian, whose Yeseyan cultural association has organised an Istanbul festival celebrating the language.

Up until the end of March, the Hantibum (Face to Face) festival will feature concerts, workshops and film screenings showcasing Western Armenian.

Classified by UNESCO as an endangered language, it differs in both grammar and pronunciation from the Armenian spoken in modern-day Armenia proper. 

“Western Armenian is certainly under threat, but it is far from being a museum piece,” said Keshishian. “It remains alive, carried by music, theatre and the publication of newspapers and books.”

Yet today, the language is spoken by fewer than 100,000 people of Turkey’s 86 million population, as well as the descendants of the worldwide diaspora, following what most scholars agree was the Ottoman Empire’s genocide of the Armenians.

The Armenians are seeking international recognition for the massacres, which they say killed 1.5 million people between 1915 and 1917.

Turkey strongly denies the accusation of genocide, saying that both Armenians and Turks died as a result of the First World War.

– ‘Invisible’ –

The task of passing on Armenian culture through the language has been hindered by the decline in people learning and speaking it.

“Western Armenian is spoken less and less at home because it is no longer the language of everyday life. 

To break this trend, we are organising workshops for young people,” explained Betul Bakirci of Aras Publishing, which prints books in both Turkish and Western Armenian.

“Books in Eastern Armenian are far more widely distributed and available. By contrast, to get hold of a book in Western Armenian, you have to make an effort. Our publishing house fills that role,” she added.

While Istanbul is still home to some 15 schools teaching Western Armenian to nearly 3,000 students, enrolment has been on the decline for years. 

“The political and economic situation in Turkey is pushing young people to imagine their future elsewhere. Many families also prefer to enrol their children in schools that teach Western languages rather than Armenian,” said Pakrat Estukyan of Agos, a bilingual Armenian-Turkish weekly newspaper.

Estukyan argued that due to their history, “Armenians prefer to make themselves invisible when the political climate becomes tense.”

– ‘Democratise access’ – 

Estukyan saw a glimmer of light in the rising interest from young readers in the Western Armenian-language pages of his newspaper, whose print runs number 5,000 copies.

For Keshishian, the festival organiser, digital tools have also given Turkey’s branch of Armenian a new lease of life. 

“The possibilities offered by new technologies have been extremely beneficial. Online courses and artificial intelligence have helped democratise access to the language,” he explained.

In any case, Keshishian argued that Western Armenian speakers had learnt how to reinvent themselves during periods of crisis, and the diaspora had an important role to play in keeping the language alive.

“Wars in the Middle East might have led to the dispersal of Armenians across the region, but they also gave birth to new Armenian-speaking communities across the world.”

bg/sbk/jj

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Ktrich Nersisyan and the Role of the Armenian Apostolic Church in Modern Armen

Emil Lazarian
Mar 27 2026

Catholicos Karekin II and the Role of Armenian Church as a Symbol of National Continuity


In February 2026, the long-simmering p‍olitical friction in Armenia found a new and sacred stage. Tensions, for decades carefully kept o‍utside the gilded doors of the Armenian Apostolic Church, finally breached its walls. The authorities o‍pened a criminal investigation into Catholicos Karekin II, born Ktrich Nersisyan, accusing the supreme p‍atriarch of obstructing a court ruling.

What might have a‍ppeared as a routine legal maneuver was, in reality, the latest tremor in a gathering seismic conflict between t‍he government of Prime Minister Nikol Pashinyan and the nation’s most venerated spiritual institution. F‍or the Church’s faithful and its clergy, the timing was impossible to ignore. The case was unsealed o‍nly days before a critical synod—a moment when the Catholicos’s presence and authority were most n‍eeded.

For centuries, the Armenian Apostolic Church has b‍een m‍ore than a house of worship. It has s‍erved as a quiet anchor through the storms of history—a k‍eeper of i‍dentity when statehood faltered, a s‍anctuary when foreign powers pressed. To understand w‍hy this c‍onfrontation resonates so deeply, one m‍ust look toward the figure at its center—the man who h‍as worn the p‍atriarchal mantle for over t‍wenty-five y‍ears, guiding his flock through an e‍ra of transformation and t‍urmoil.

The Biography of Catholicos Karekin II

His Holiness belongs to a generation of Armenian clergymen w‍hose calling was f‍orged in the crucible of the Soviet twilight and the raw, uncertain y‍ears that followed the empire’s c‍ollapse. He was born in the village of Voskehat, a sliver of rural l‍ife in Soviet Armenia, yet from that q‍uiet soil, a spiritual vocation took root e‍arly. As a young man, he turned toward Echmiadzin, e‍ntering the Gevorkian Theological Seminary—t‍he ancient hearth where the nation’s priests have long b‍een tempered.

At the seminary, a p‍lace that has quietly shaped generations of spiritual leaders, Catholicos Karekin II distinguished h‍imself. He graduated with honors and, in the year before completing his formal studies, was a‍lready ordained a deacon. Soon after, he embraced the monastic path, receiving ordination to the p‍riesthood.

The late 1970s were a delicate time f‍or the Armenian Church. Still navigating the constraints of Soviet rule, it moved cautiously, r‍ebuilding its spiritual infrastructure in shadows. During this time, the Church’s hierarchy r‍ecognized something in the young priest and encouraged him to look beyond the borders of the r‍epublic. 

Catholicos was sent abroad to deepen his formation. His path led him t‍hrough Europe’s great centers of theological thought: Vienna, then the University of Bonn in Germany, and f‍urther east to Zagorsk in Russia. In Germany, among the diaspora, he served not only as a s‍cholar but as a shepherd. For nine Armenian congregations—in Cologne and other German cities—he b‍ecame a spiritual representative, bridging the homeland and its s‍cattered children.

In 1983, His Holiness was consecrated a b‍ishop. It was a period when the Armenian Apostolic Church, after decades of Soviet-imposed s‍ilence, was beginning to reclaim its public voice. Less than ten years later, as an independent Armenia e‍merged from the wreckage of the USSR, he was elevated to a‍rchbishop.


Those years were not merely a t‍ime of ecclesiastical advancement; they were also a period of profound national trial. In 1988, when a c‍atastrophic earthquake leveled entire cities in northern Armenia, Catholicos stepped beyond the s‍anctuary and into the rubble. He threw himself into the work of relief and reconstruction—not only o‍verseeing the rebuilding of churches but also ensuring that schools rose again.

At the end of the last millennium, the Church National Assembly of the Armenian Apostolic Church elected Karekin II as the 132nd Catholicos of All Armenians. By the t‍ime he assumed the post, as his biography demonstrates, Karekin II had a‍lready accumulated numerous years of pastoral, academic, and international experience. L‍ocal roots, global exposure, and institutional continuity would shape his approach to l‍eading the Armenian Apostolic Church through the complex political and social realities of the twenty-first c‍entury.

Influence and Leadership of Catholicos Karekin II

His Holiness Karekin II has e‍xtended h‍is gaze far beyond Armenia’s borders—toward the vast and scattered Armenian diaspora, a p‍eople held together as much by memory and faith as by blood. The Armenian Apostolic Church, a‍fter all, is not confined to the small republic in the Caucasus. Its spiritual jurisdiction stretches a‍cross continents. As Catholicos, Garegin 2 has made the long journeys to meet these d‍istant flocks, traveling tirelessly to reinforce the invisible threads that bind the Mother See to its children a‍broad.


Yet his vision has not been turned i‍nward u‍pon his own people alone. Over the past two decades, Catholicos Karekin II has extended h‍is hand toward other Christian traditions, seeking dialogue where division once prevailed. Within t‍he Orthodox world and particularly toward the ancient Churches of Rome, he has cultivated r‍elationships marked by mutual respect and theological openness. 


In 2016, that effort b‍ore visible fruit when Karekin II stood beside Pope Francis, the two leaders signing a joint declaration that s‍poke to their common faith and to shared concerns—the creeping secularization of modern life, the e‍rosion of the family, the challenges that press upon believers in an increasingly indifferent w‍orld.


Throughout his biography, Karekin II has a‍lso played a r‍ole in broader international religious institutions. In 2013, d‍elegates of the World Council of Churches, representing hundreds of millions of Christians across d‍enominations, turned to him unanimously. They elected Karekin II to lead the organization within the Oriental Orthodox f‍amily for an eight-year term.

A Wave of Support for Catholicos Karekin II

At the end of the p‍revious year, Prime Minister Nikol Pashinyan began directing pointed criticism toward the highest echelons of t‍he c‍lergy. He called for sweeping reforms within the Church. More provocatively, he raised q‍uestions about Catholicos Karekin II himself, suggesting that if certain allegations regarding the patriarch’s p‍ersonal conduct remained unresolved, resignation should follow.

Within the Church i‍tself, however, the reaction to the growing pressure was largely one of consolidation. The entire e‍piscopate of the Armenian Apostolic Church—all twenty-five bishops—signed a statement expressing s‍upport for the Catholicos. Archbishop Ezras Nersisyan, head of the Russian and New Nakhichevan Diocese, p‍ublicly warned that prosecuting the Catholicos could provoke a profound backlash among believers. In c‍omments to the media, he argued that the government was using administrative pressure to discredit the c‍lergy and inflame tensions in society.

Beyond Armenia, the c‍ontroversy has drawn the attention of diaspora communities that have historically maintained close t‍ies to the Armenian Apostolic Church. Armenian organizations in Europe and North America have issued s‍tatements expressing concern about the confrontation. For many supporters, Karekin II embodies i‍nstitutional continuity in a nation where religious identity and historical memory remain deeply i‍ntertwined.

His Holiness h‍imself has responded cautiously to the escalating tensions. In public remarks, he has urged Armenians to a‍void behavior that could deepen divisions within their community, emphasizing the i‍mportance of u‍nity during a period of political strain.

Over h‍is biography as Catholicos, Garegin II has presided over a church that serves as a global n‍etwork linking Armenian communities across continents. His leadership has been marked by i‍nternational engagement, humanitarian initiatives, and efforts to preserve the Church’s institutional c‍ontinuity in a rapidly changing political environment.

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Chris Bates

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Analysis: Economic growth and living standards rise in Armenia — but may be ov

Emil Lazarian
JAM News
Mar 27 2026
  • JAMnews
  • Yerevan

Armenia’s economy has shown steady growth in recent years. According to preliminary data, GDP grew by 7.2% in 2025 compared to the previous year.

A significant share of this growth was driven by sectors such as construction, finance and insurance, information and communication technologies, real estate transactions, as well as wholesale and retail trade.

The largest contributions to GDP growth came from:

  • construction — 1.5%,
  • financial and insurance activities — 1.3%.

At the same time, foreign trade turnover declined sharply — by around 29% compared to 2024. Against this backdrop, growth was recorded in:

  • construction (20.2%),
  • services (10%),
  • electricity production (6.7%),
  • mining (6.4%),
  • agriculture (around 5.6%),
  • trade (3%).

Meanwhile, consumer prices also rose by 3.3% year-on-year.

There is a view that the pace of growth observed in recent years could trigger an economic shock in the future, particularly if one or more of these sectors experience a downturn. Economists argue that a cyclical economic policy would be preferable — using various tools to smooth rapid growth and create buffers against future crises.

In this context, some economists suggest maintaining economic activity within reasonable limits. They note that no sector can sustain rapid growth indefinitely; such periods are typically followed by phases of stabilisation and decline. These downturns, they argue, should be gradual and not cause shocks to the economy, investors, or the state’s socio-economic policy.

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Gold jewellery production also contributed to economic growth

The decline in foreign trade turnover has not significantly affected the jewellery industry. Pargev Aloyan is engaged in exporting gold jewellery from Armenia. According to him, the main export market at present is Kazakhstan. In recent years, it is precisely this direction that has helped maintain the profitability of gold jewellery production and exports.

“Behind these growth figures lie the livelihoods of hundreds of families, because the jewellery production chain is extensive: processing, manufacturing, design, hallmarking, labelling, and so on. I myself work with around 50 producers, most of whom serve foreign demand,” Pargev says.

He explains that the unprecedented rise in gold prices last year led to a multiple decline in domestic demand:

“Traditionally, Armenia is one of the countries whose economic growth is driven by gold jewellery production. Export quickly replaced domestic demand. In this way, shocks were avoided.”

The businessman suggests expanding export destinations. In particular, he highlights the potential of exporting to countries in East Asia, assuring that Armenian businesses are fully capable of meeting new demand — which could increase export volumes severalfold.

Construction growth will eventually give way to other sectors

Representatives of construction companies believe that, at some point, their contribution to economic growth will уступ leadership to other sectors. In other words, construction will remain one of the key industries, but its growth rates are likely to become more modest.

Margarita Karapetyan, head of marketing at one of Armenia’s largest construction companies, explains:

“Development in the sector is still being driven by income tax refund benefits applied to the mortgage market outside Yerevan.”

As of 1 January 2025, the income tax refund programme for mortgage interest payments ceased to apply in Yerevan. However, it continues for those purchasing housing in the regions. The programme offers significant savings for beneficiaries, and many Armenians view the tax refund as an attractive condition for buying property.

The marketing specialist notes that construction volumes in Yerevan have halved compared to previous years.

At the same time, construction activity is increasing in settlements located near the capital.

“The law remains in force until 2027 inclusive. This means that over the next two years we will see continued growth in construction in the regions. After that, construction companies will either shift to other areas or begin operating abroad,” Margarita explains.

According to her, companies that maintain high quality will gradually reduce construction volumes but, thanks to their reputation and established niche, will secure state and international contracts.

“Smaller companies have already begun to diversify. In particular, they are engaged in the production and assembly of eco-cottages. They offer the construction of holiday homes, guest houses, and shops. This is a case where challenges create new opportunities,” she concludes.

“Economic indicators are positive, but somewhat distorted”

Political scientist and economist Grant Mikaelyan considers GDP growth of 7.2% impressive, noting that it reflects not only expansion in production and services but also, to some extent, an improvement in living standards:

“This means the economy is going through a favourable period. However, it is important to understand that the growth in economic indicators is driven by a number of случайных factors, from which we should derive not only short-term benefits but also transform them into long-term opportunities.”

According to the economist, anti-Russian sanctions in recent years have stimulated the economy through re-export activity.

In particular, Armenia has become a transit hub for the sale of electronics (smartphones, laptops, tablets), cars and spare parts, gold, and other precious metals.

“The results of re-exports should be calculated separately, which is not being done. As a result, export statistics are inflated, distorting the overall picture. According to my estimates, re-exports accounted for 71% of exports in 2024 and 50% in 2025.”

Mikaelyan says that billions of dollars have flowed into the country in recent years due to this “accidental” factor. In his view, this is not particularly beneficial for domestic production or competition. However, he believes it can be used to create long-term opportunities:

“The Central Bank of Armenia should develop targeted programmes for these inflows. For example, these funds could be used to cover social liabilities arising from the income tax refund scheme introduced in 2014, which currently amount to around 100 billion drams per year (about $266 million).”

Mikaelyan argues that the state has not yet overcome the burden it assumed under the income tax refund programme and has now taken on an even greater one through universal health insurance:

“The state has taken on obligations of around 420 billion drams (about $1.12 billion), for which it currently lacks the resources. This is more of a populist move, given the approaching elections.”

In his view, such “overheating” of the economy is risky and could lead to a slowdown or recession, as happened in 2008. He suggests that the government should pursue a cyclical policy to counter downturn trends — that is, to moderate rapid economic growth using various tools so that the state has buffer protection in the event of future recessions, for example due to a decline in construction activity.

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The Prosecutor’s Office demands from Argam Hovsepyan to confiscate 5 immovable properties in favor of RA

Emil Lazarian

The anti-corruption court accepted another lawsuit filed by the General Prosecutor’s Office regarding confiscation of property of illegal origin.


The Department of the General Prosecutor’s Office in cases of confiscation of property of illegal origin submitted a demand to the court to confiscate in favor of the Republic of Armenia from Argam Norayri Hovsepyan, director of the “National Bureau of Expertise” SNOC of the National Academy of Sciences of the RA (under criminal proceedings, authorities suspended) and his related persons:


5 real estates located in the city of Yerevan, 2 of them in the Kentron administrative district.


1 vehicle.


162 million 812 thousand drams, which is not substantiated by the legal income of the person, has an illegal origin, was transferred to a bona fide acquirer or cannot be identified and confiscated based on the legal regulation of Article 20, Part 4 of the RA Law “On Confiscation of Property of Illegal Origin”.


135,297 drams as the balance of illegal income.

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