In this episode, we unpack how the war in the Middle East has been shaping the economic outlook for Azerbaijan, and why — perhaps surprisingly — it has generated some positive spillovers for Armenia too. We explore how Armenia continues to outperform growth expectations, while its external sector undergoes a structural shift toward IT and financial services that most investors are still overlooking. We then turn to the June 2026 parliamentary elections and why their outcome is directly tied to the pace of the Armenia-Azerbaijan peace process and the prospect of opening the Turkish border for the first time since 1993. After more than three decades of conflict, a new chapter may finally be within reach in the South Caucasus.

Speakers

Khamza Sharifzoda, EM, Economic and Policy Research

Fatih Akcelik, EM, Economic and Policy Research

Moderator: Nicolaie Alexandru-Chidesciuc, EM, Economic and Policy Research

This podcast was recorded on 13 May 2026.

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