Analysis and Assessment of Channels for Impact of the Russian Economy on the Macroeconomic Environment of Armenia

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The article analyzes the key channels of the Russian economy’s impact on Armenia’s macroeconomic environment in recent decades in terms of assessing the key benefits and possible threats to the country’s economic growth. Key drivers of Armenia’s economic growth have been identified, as well as the channels, through which the Russian economy can impact it. The key conclusion of the study is that Armenia’s economy is highly dependent on the volatility of the Russian economy. An important element of this impact is the flow of private remittances. Their influence on Armenia’s macroeconomic dynamics shows signs of chronic “Dutch disease” in the country’s economy.