BREAKING: Armenian PM resigns amid MASSIVE opposition protests
Mass protests against Armenian ex-President and newly appointed Prime Minister Serzh Sargsyan have been ongoing in the country for the second week straight, with soldiers taking to the streets earlier in the day.
23 April, 2018
Tens of thousands of protesters have taken to the streets in all major cities across Armenia as the outgoing president, Serzh Sargsyan, is elected Prime Minister by the Parliament. The move is largely perceived as a power grab, as Sargsyan will largely retain the same powers that he held during his two terms in the Presidential capacity. This move takes place just after Armenia’s April 9th transition from a presidential system to that of a prime ministerial one.
23 April, 2018
After 11 days of mass protests and violent clashes over the perceived power-grab following the outgoing Armenian President's election toPrime Minister, Serzh Sargsyan has resigned and police have released opposition leader Nikol Pashinyan.
“The people are against my rule,” Sargsyan, who took office as prime minister after serving as Armenia’s president for 10 years, said in a statement.
“I am leaving my post.”
If we evaluate the results of the new government, they’re simply disastrous for the country. In the year before the coup, the GDP was estimated at $180 billion, in 2017 it’s expected to be half as much, $90 billion.
The average salary in the country was more than halved, from $408 per month to $196 last year. The exchange rate of the hryvna fell three and a half times, from 8 to 27 per dollar. As the main high-tech enterprises are destroyed, the economy acquired a colonial structure.
More and more raw materials are exported, being nearly 80% of exports. Half of this is agrarian. Total export volume fell by 57%. Foreign direct investment fell by at least four times, from 6 billion a year to one and a half. That’s practically nothing. And out of this nothing, however, most of the investment still comes from Russia.
The national debt has been increasing all the time and has now become difficult to be paid back. It was 64 billion dollars which then became 80 billion. Many millions of its citizens have left the country in search of a better life. Some of them went to the West, some to Russia. The health system and the education system have deteriorated.
The system of legal proceedings as well. Corporate raiding became the norm. Corruption increased. The country broke into pieces.
Poroshenko and his team deceived everyone: the West, and Russia, and their people in terms of the country’s prospects, the practices of the new government, and the Minsk Agreements.