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Armenia: Eurasian Union Malaise Puts Government in Budget Hole

Armenian President Serzh Sargsyan reviews the delivery of 49 new vehicles to the country’s HayPost postal service on June 14, 2014. In May 2015, the Armenian government passed a bill to privatize several companies, including HayPost. (Photo: Armenian Presidential Press Service)

The expected economic benefits of membership in the Eurasian Economic Union are not materializing for Armenia. One way Armenian leaders are apparently hoping to offset looming shortfalls is by privatizing the postal service.
 
With roughly 3,000 employees, the state-run HayPost has been managed since 2006 by a firm owned by Argentinean billionaire businessman Eduardo Eurnekian. Under the HayPost Trust Management, facilities have been upgraded and, most Armenians seem to believe, services have improved.
 
The firm’s management contract does not expire until the end of 2016. That fact is prompting Armenian observers to question why the government wants to privatize the post office now? Many believe the country’s economic alliance with Russia is the main driver for privatization. As Russia’s economy has faltered, so, too, has Armenia’s.
 

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Marianna Grigoryan is a freelance reporter based in Yerevan and editor of MediaLab.am.

Armenia: Eurasian Union Malaise Puts Government in Budget Hole

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