Economy
Main article: Economy of Nagorno-Karabakh RepublicThe socio-economic situation of the Nagorno-Karabakh Republic was greatly affected by the conflict. Yet, foreign investments are beginning to come. The origin of most venture capital comes from Armenians in Armenia, Russia, United States, France, Australia, Iran, and the Middle East.
Notably the telecommunications sector was developed with Karabakh Telecom investing millions of dollars in mobile telephony, spearheaded by a Lebanese company.
Copper and gold mining has been advancing since 2002 with development and launch of operations at Drmbon deposit. Approximately 27–28 thousand tons (wet weight) of concentrates are produced with average copper content of 19–21% and gold content of 32–34 g/t.
The banking system is also flourishing with Artsakhbank (the state bank) and a number of Armenian banks. The republic presently uses the Armenian dram.
Wine growing and processing of agricultural products, particularly wine (i.e. storage of wine, wine stuff, cognac alcohol) is one of the prioritized directions of the economic development.
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
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“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)