INCLUSIVE DEVELOPMENT INDEX IN RA

Abstract

Taking into account the limitations of the (per capita) Gross Domestic Product as a criterion of social welfare, the experts of the World Economic Forum proposed an alternative measure - Inclusive Development Index (IDI) in 2017. In the present article, we summarize and analyze those results of “The Inclusive Development Report 2018” that are noteworthy from the perspective of Armenia. We document that as of 2018, among 74 developing countries, Armenia ranks 45th on the IDI. Importantly, its ranking is even lower by per capita GDP. Combined with other alarming findings, this observation requires reevaluating of the social-economic strategy of RA