THE RUSSIA-UKRAINE WAR AND ITS IMPACT ON THE ECONOMY OF RA

The Russo-Ukrainian war, which began in 2022, had a significant impact on the economy of Armenia. This article examines the economic changes caused by the war, including trade, tourism, the IT sector, the gold market, and financial flows. As a result of the war, Armenia has become a trade intermediary, re-exporting goods, especially high-tech and gold. The IT sector experienced a short-term growth due to the influx of Russian companies, but in the first half of 2024 a 13% decline was observed due to the outflow of companies and specialists. The arrival of a large number of citizens immigrating from Russia has increased real estate prices, and a significant increase has been recorded in the service sector. The increase in financial flows has strengthened the Armenian dram, but it has also created problems for exporters. The conclusion shows that the Armenian economy has enjoyed short-term gains as a result of the war, but in the long term there are challenges that require a strategic approach and measures to ensure sustainable development.