Armenian opposition candidate criticizes government's economic record

Armenian opposition candidate Narek Karapetyan on Sunday accused Prime Minister Nikol Pashinyan’s government of failing to diversify the country’s economy, arguing that Armenia has become increasingly dependent on Russia despite the government’s stated ambition to deepen ties with Europe.

Speaking to foreign journalists after casting his ballot in Armenia’s parliamentary elections, Karapetyan, the lead candidate of the Strong Armenia alliance, said economic independence should be the foundation of national sovereignty.

“The government has not diversified Armenia’s economy in any meaningful way,” Karapetyan said. “Independence begins, first and foremost, with economic independence.”

Responding to a question from an Estonian journalist about Armenia’s foreign policy orientation, Karapetyan challenged the government’s pro-European rhetoric, pointing to a sharp increase in the country’s economic reliance on Russia.

“When the current government came to power, trade turnover with Russia accounted for 25% of Armenia’s total trade. Today, it has reached 65%,” he said. “At the same time, trade turnover with France has fallen by 20% over the past eight years.”

Karapetyan said his alliance would pursue a policy of economic diversification aimed at reducing dependence on any single market and expanding trade ties across multiple regions.

“Our goal is to diversify Armenia’s economic policy and create a more balanced distribution of trade among different markets,” he said.

Karapetyan also addressed the Armenian leadership’s strained ties with the Armenian Apostolic Church, saying his political movement began with support for the church.

He criticized the detention of businessman and philanthropist Samvel Karapetyan, stressing that it followed his public statements of support for the church.

“Samvel Karapetyan was arrested because of a single phrase,” Karapetyan said. “Even the criminal case itself stated that the detention was based on that phrase.”