Legislative branch: unicameral National Assembly (Parliament) or
Azgayin Zhoghov (190 seats; members serve four-year terms)
elections: last held 5 July 1995 (next to be held in the spring of
1999)
election results: percent of vote by party—NA; seats by
party—Republican Bloc 159 (ANM 63, DLP-Hanrapetutyun Bloc 6,
Republic Party 4, CDU 3, Intellectual Armenia 3, Social Democratic
Party 2, independents 78), SWM 8, ACP 7, NDU 5, NSDU 3, DLP 1, ARF
1, other 4, vacant 2; note—seats by party change frequently
Judicial branch: Supreme Court; Constitutional Court
Political parties and leaders: Armenian National Movement or ANM
International organization participation: BSEC, CCC, CE (guest),
CIS, EAPC, EBRD, ECE, ESCAP, FAO, IAEA, IBRD, ICAO, ICRM, IDA, IFAD,
IFC, IFRCS, ILO, IMF, Intelsat, Interpol, IOC, IOM, ISO, ITU, NAM
(observer), OPCW, OSCE, PFP, UN, UNCTAD, UNESCO, UNIDO, UPU, WFTU,
WHO, WIPO, WMO, WToO, WTrO (applicant)
Diplomatic representation in the US: chief of mission: Ambassador Rouben R. SHUGARIAN chancery: 2225 R Street NW, Washington, DC 20008 consulate(s) general: Los Angeles
Diplomatic representation from the US: chief of mission: Ambassador Michael LEMMON embassy: 18 General Bagramian Avenue, Yerevan mailing address: American Embassy Yerevan, Department of State, Washington, DC 20521-7020
Flag description: three equal horizontal bands of red (top), blue, and gold
Economy
Economy—overview: Under the old Soviet central planning system, Armenia had developed a modern industrial sector, supplying machine tools, textiles, and other manufactured goods to sister republics in exchange for raw materials and energy. Since the implosion of the USSR in December 1991, Armenia has switched to small-scale agriculture away from the large agroindustrial complexes of the Soviet area. The agricultural sector has long-term needs for more investment and updated technology. The privatization of industry has been at a slower pace, but has been given renewed emphasis by the current administration. Armenia is a food importer, and its mineral deposits (gold, bauxite) are small. The ongoing conflict with Azerbaijan over the ethnic Armenian-dominated region of Nagorno-Karabakh and the breakup of the centrally directed economic system of the former Soviet Union contributed to a severe economic decline in the early 1990s. By 1994, however, the Armenian Government had launched an ambitious IMF-sponsored economic program that has resulted in positive growth rates in 1995-98. Armenia also managed to slash inflation and to privatize most small- and medium-sized enterprises. The chronic energy shortages Armenia suffered in recent years have been largely offset by the energy supplied by one of its nuclear power plants at Metsamor. The Russian financial crisis generated concerns about Armenia's economic performance in 1998. Although inflation dropped to 10% and GDP grew about 6%, the industrial sector remained moribund. Much of Armenia's population remains heavily dependent on remittances from relatives abroad, and remittances from Russia fell off sharply in 1998.
GDP: purchasing power parity—$9.2 billion (1998 est.)