Velvet Revolution 2018
The 2018 Velvet Revolution in Armenia that swept Serzh Sargsyan from power and brought Nikol Pashinyan to power as Prime Minister marked the beginning of ongoing major cultural, legal, political and educational reforms.
Armenians dubbed the revolution ‘velvet and non-violent’. As many say, this is a unique revolution in every sense. It is the first full-on revolution in a post-Soviet state that legitimately boiled up from the streets, free of influence from outside forces.
Following the revolution in 2018, The Economist named Armenia as its country of the year, saying ‘the South Caucasus nation has a chance of democracy and renewal after street protests led to a peaceful change of government’.
The country’s economy has grown steadily over the past two years, by eliminating corruption at the highest levels of government, modernizing and simplifying investment regulations. Doctors, teachers, servicemen, social workers, and lecturers regularly receive pay raises.
Impact on the educational system
More than 20 memoranda were signed between employers and institutions of primary and secondary vocational education. As a result, universities and colleges are now training specialists for these organizations, creating new professions while private sector companies are supplying technical equipment and laboratories for students.
The current interest rates for student loans are set at 6% for undergraduate students while postgraduate students will pay 7% interest rate. The maximum amount a student can borrow increased by over 30%.
Armenia and the European Union signed five agreements regarding education, justice, democracy, territorial development and economy, with a total value of EUR 36 million.