Closed borders are what are keeping people from making investments in Armenia. This is what researcher of the Caucasus Institute Hrant Mikayelyan told reporters today, adding that political stability in the country is as important as closed borders.

“Armenia saw deceleration of economic growth in the first half of the year, but in the second half, prices sharply grew in the real estate market and many other sectors, especially industry,” Mikayelyan stressed.

According to him, the growth was also conditioned by the fact that many outlets started operating again after closing down in 2018. The analyst went on to say that there is 10% growth in the reprocessing industry due to Armenia’s accession to the Eurasian Economic Union and added that there has been quite significant growth in exporting and certain growth in the tourism sector (12%).