Abstract
The purpose of this article is to identify the consequences of the Armenian-Azerbaijani conflict in Nagorno-Karabakh.The authors analyze the positive shifts in the Armenian economy in connection with the economic reforms of N. Pashinyan.It is concluded that the consequences of the hostilities were a sharper than previously predicted drop in GDP, the closure or suspension of a large number of medium and small enterprises in industry and services, an increase in the state budget deficit, etc.