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The country with a 15% growth rate

Is Artsakh, better known in these parts as Nagorno-Karabakh.

And here it is:

The Moscow Times has an interesting piece about Artsakh, noting its 15% growth rate fuelled by the Armenian diaspora, a diaspora impressively ready to put its collective money where its collective mouth is, and as a result of investments made out of sentiment has ended up serving the motherland and making money. So it's all good.

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Blogger Mr Eugenides said... 12:54 pm

Good indeed. But Azerbaijan has something that Armenia doesn't; oil. And Azeri military spending has gone through the roof in recent years; $1 billion in the latest budget, nearly four times that of Armenia (16% of the total government budget, as against 3.5% on the Armenian side).

If I were a resident of Nagorno-Karabakh, I wouldn't be building a new conservatory just yet.  



Blogger Croydonian said... 3:36 pm

Mr E - I fear you are right, and for all that I reckon the quality of the Armenian forces vis a vis the Azeris is much like those of the Miracle on the Med compared to its Arab neighbours, I doubt that they can count on Moscow to be that big a help in future.  



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