ARMENIA REGIONS DEVELOPMENT TRENDS IN THE ECONOMIC SECURITY ENSURING CONTEXT

Abstract

Introduction. The development of the country's regions is closely linked to the issue of economic security, especially for small, open economies that are often susceptible to external shocks and are vulnerable to the high uncertainty of the global economy and the influence of leading economies. Given the technological leadership of only a few countries in the world and the high risks of information, food, military, energy, and many other types of security, assessing the development of Armenia's regions from the perspective of the country's economic security is relevant. This study analyzes and evaluates the key characteristics of Armenia's regional development from the perspective of the country's economic security.

Materials and methods. The analysis is based on a review of statistical data characterizing the macroeconomic situation in Armenia's regions. The analysis examined the key indicators of economic development in Armenia's regions in detail, with the aim of comparing them and identifying vulnerabilities in terms of economic security. Specifically, two key groups of indicators characterizing the structure of regional GDP and the level of human capital development have been examined. These indicators have been examined for their current characteristics and in the context of economic security at both the regional and national levels.

Results and conclusions. The study has revealed that, at the current stage of development, Armenia's regions are characterized by disparities in development and a high concentration of all economic resources in the capital. This necessitates a revision of the country's regional policy in order to improve both regional development and the country's economic security. The key finding of the study is the need to revise Armenia's regional policy in the context of improving the country's regional economic security. Furthermore, the development of a regional development strategy should include a set of measures to develop transport and utilities infrastructure, education and healthcare systems, various incentives for small and medium-sized businesses, as well as aspects of food and energy security for Armenia's regions.

Discussion. Regional issues are often being ignored in favor of seemingly more pressing concerns about economic growth and development. However, from an economic security perspective, regional development is strategically important. Armenia, as a landlocked country with limited logistics capabilities and complex relations with neighboring countries, urgently needs to strengthen the position of its regions and their development, specifically in terms of ensuring the country's economic security. In this study, the author concludes that Armenia's level of regional development is insufficient to ensure economic security. Furthermore, the author recommends developing a comprehensive regional policy and regional development strategy that would systematize pressing regional issues and solutions. The findings may be useful to government agencies, the ministry, and the expert scientific community.