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The start of Sargsyan's presidency coincided with the [[Great Recession]]. In 2009, Armenia's GDP contracted over 14%,<ref>{{cite news|title=Armenia's GDP contracts by 14.4% in 2009: Statistics|url=http://arka.am/en/news/economy/18549/|work=arka.am|agency=ARKA Newa Agency|date=2 February 2010|access-date=12 February 2015|archive-date=13 February 2015|archive-url=https://web.archive.org/web/20150213004757/http://arka.am/en/news/economy/18549/|url-status=live}}</ref> which according to the World Bank was the fifth worst in the world that year after the three [[Baltic states]] and Ukraine.<ref>{{cite web|url=http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?order=wbapi_data_value_2009+wbapi_data_value+wbapi_data_value-last&sort=asc&page=1|title=GDP growth (annual %) - Data|website=data.worldbank.org|access-date=14 February 2015|archive-date=15 February 2015|archive-url=https://web.archive.org/web/20150215002541/http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?order=wbapi_data_value_2009+wbapi_data_value+wbapi_data_value-last&sort=asc&page=1|url-status=live}}</ref> GDP growth subsequently stabilized at around 3% by 2013.<ref>{{cite web |url=http://www.worldbank.org/en/country/armenia/overview |title=Armenia Overview |publisher=Worldbank.org |access-date=15 November 2017 |archive-date=25 June 2020 |archive-url=https://web.archive.org/web/20200625185847/https://www.worldbank.org/en/country/armenia/overview |url-status=live }}</ref> As of 2014, Armenia's GDP is below the pre-crisis levels. During his first term of presidency, the official poverty rate doubled and reached 32.4% in 2012.<ref>{{cite news|title=Poverty Rate in Armenia Nearly Doubles|url=http://asbarez.com/116670/poverty-rate-in-armenia-nearly-doubles/|work=[[Asbarez]]|date=26 November 2013|access-date=12 February 2015|archive-date=13 February 2015|archive-url=https://web.archive.org/web/20150213011755/http://asbarez.com/116670/poverty-rate-in-armenia-nearly-doubles/|url-status=live}}</ref> According to official data, some 213,000 people have left Armenia from 2008 to 2013.<ref>{{cite news|last1=Hakobyan|first1=Tatul|title=Սպիտակ ջարդ' 100-րդ տարելիցի նախօրեին|url=http://civilnet.am/2014/02/06/%D5%BD%D5%BA%D5%AB%D5%BF%D5%A1%D5%AF-%D5%BB%D5%A1%D6%80%D5%A4-100-%D6%80%D5%A4-%D5%BF%D5%A1%D6%80%D5%A5%D5%AC%D5%AB%D6%81%D5%AB-%D5%B6%D5%A1%D5%AD%D6%85%D6%80%D5%A5%D5%AB%D5%B6/#.VN0jtubF9gg|work=[[CivilNet]]|date=6 February 2014|language=hy|access-date=12 February 2015|archive-date=13 February 2015|archive-url=https://web.archive.org/web/20150213015637/http://civilnet.am/2014/02/06/%D5%BD%D5%BA%D5%AB%D5%BF%D5%A1%D5%AF-%D5%BB%D5%A1%D6%80%D5%A4-100-%D6%80%D5%A4-%D5%BF%D5%A1%D6%80%D5%A5%D5%AC%D5%AB%D6%81%D5%AB-%D5%B6%D5%A1%D5%AD%D6%85%D6%80%D5%A5%D5%AB%D5%B6/#.VN0jtubF9gg|url-status=live}}</ref> In 2012, Armenia was ranked 39th out of 179 economies according to the [[Index of Economic Freedom]] and ranked 19th freest among the 43 countries in the Europe region.<ref>[http://www.heritage.org/index/pdf/2012/countries/armenia.pdf "2012 Index of Economic Freedom"] {{Webarchive|url=https://web.archive.org/web/20150924043810/http://www.heritage.org/index/pdf/2012/countries/armenia.pdf |date=24 September 2015 }}, The Heritage Foundation.</ref>
In September 2013 and under Sargsyan's direction, Armenia announced its intentions of joining the [[Eurasian Economic Union]] with Belarus, Kazakhstan and Russia.<ref name=ack>{{cite web |url=http://www.eurasianet.org/node/67852 |title=Giorgi Lomsadze: ''Will Karabakh "Join" Russia's Customs Union? |website=eurasianet.org |access-date=10 December 2013 |archive-date=13 December 2013 |archive-url=https://web.archive.org/web/20131213031306/http://www.eurasianet.org/node/67852 |url-status=live }}</ref> The Eurasian Economic Union (EAEU or EEU) is an [[economic union]] of [[Belarus]], [[Kazakhstan]] and [[Russia]], and came into force on 1 January 2015.<ref>{{cite web |url=http://docs.eaeunion.org/en-us/Pages/DisplayDocument.aspx?s=bef9c798-3978-42f3-9ef2-d0fb3d53b75f&w=632c7868-4ee2-4b21-bc64-1995328e6ef3&l=540294ae-c3c9-4511-9bf8-aaf5d6e0d169&EntityID=3610 |title=Страницы - DisplayDocument.aspx |access-date=9 April 2016 |url-status=dead |archive-url=https://web.archive.org/web/20160417110445/https://docs.eaeunion.org/en-us/Pages/DisplayDocument.aspx?s=bef9c798-3978-42f3-9ef2-d0fb3d53b75f&w=632c7868-4ee2-4b21-bc64-1995328e6ef3&l=540294ae-c3c9-4511-9bf8-aaf5d6e0d169&EntityID=3610 |archive-date=17 April 2016 |df=dmy-all }}</ref> Treaties aiming for [[Armenia]]'s accession to the Eurasian Economic Union was signed on 9 October 2014. Armenia's accession treaty came into force on 2 January 2015.<ref>{{cite web|url=http://www.customs-code.ru/pravovbaza/18429-dogovor-arm|title=ДОГОВОР О ПРИСОЕДИНЕНИИ РЕСПУБЛИКИ АРМЕНИЯ К ДОГОВОРУ О ЕВРАЗИЙСКОМ ЭКОНОМИЧЕСКОМ СОЮЗЕ ОТ 29 МАЯ 2014 ГОДА (Минск, 10 октября 2014 года)|last=Дмитрий|website=www.customs-code.ru|access-date=13 February 2015|archive-date=25 December 2014|archive-url=https://web.archive.org/web/20141225011034/http://www.customs-code.ru/pravovbaza/18429-dogovor-arm|url-status=live}}</ref> The Eurasian Economic Union has an integrated [[single market]] of 176 million people and a [[gross domestic product]] of over 4 trillion U.S. dollars (PPP).<ref>{{cite web|url=http://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD/countries/order%3Dwbapi_data_value_2012%20wbapi_data_value%20wbapi_data_value-last?order=wbapi_data_value_2013%20wbapi_data_value%20wbapi_data_value-last&sort=desc&display=default%7ctitle=GDP|title=GDP, PPP (current international $)|access-date=13 February 2015|archive-date=1 April 2020|archive-url=https://web.archive.org/web/20200401235140/http://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD/countries/order%3Dwbapi_data_value_2012%20wbapi_data_value%20wbapi_data_value-last?order=wbapi_data_value_2013%20wbapi_data_value%20wbapi_data_value-last&sort=desc&display=default%7ctitle=GDP|url-status=live}}</ref> The EEU introduces the free movement of goods, capital, services and people and provides for common transport, agriculture and energy policies, with provisions for a single currency and greater integration in the future.
===Foreign policy===
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