In what is now referred to as the Velvet Revolution, small protests soon snowballed into a demonstration of 250,000 citizens and spread throughout Armenia’s cities peacefully and in a decentralized and self-organized manner. The protesters put pressure on the parliamentary majority to elect Pashinyan as prime minister days after former President Sargsyan resigned under public pressure.

With the December 2018 snap parliamentary elections, the first free and fair elections for a long time, Armenia entered a new phase of state-building and development.

Armenia has long had a considerable disparity in income and wealth distribution, but for the first time in a long while, Armenia saw a 3.7% drop in the poverty rate and has considerably improved its business environment through regulatory and tax reforms.

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