Dear compatriots,

In my address to you last year, I expressed hope that 1995 would be a year in which the hardships of our people would be alleviated and tangible results of the independent statehood would be exhibited.

Today I can state with deep satisfaction that my optimism was completely justified. Unlike previous years, 1995 became crucial from the point of view of current positive economic trends, stabilization of the Dram and prices, intensification of foreign trade, and slow but steady improvement of the living standard of the population. There is no need to refer to statistical data or economic indicators for confirmation; it is visible in the amount of cars on the streets, the abundance of goods in shops and markets, the smiles on people's faces, and the increasing optimism.

There is no need to assert that all this should be preserved and enhanced during the coming year to inspire security and the feeling of stable progress since without that feeling it is impossible to perceive the cherished prospect of Armenian prosperity.

Our people paid a very high price for independence and the liberation of Artsakh. They did not pay it unwillingly but consciously. They suffered but resisted, were frustrated but endured because the aim was sacred and un-negotiable.

I think we have the right to consider this genuine bravery to which the coming generations will pay tribute. Since there is no bravery that remains un-reimbursed nor a noble effort that has not yielded results, similarly the tremendous efforts exerted by our people must achieve their results.

It is not a coincidence that 1995 became the first year of fertility. Though the harvest was modest, it was optimistic.

Thanks to diligent work of executive authorities and the business, industrial, and agricultural sectors, the lives of the people gradually entered the normal phase with its everyday problems and hardships but yet a predicable course. No shocks associated with the devaluation of the Dram or inflation, skyrocketing of prices, absence of any commodities nor phenomena of any other economic nature took place this year.

The 1995 complex socio-economic program of Armenia, devised with the help of international financial organizations played a crucial role in the stabilization of the economy, thus drawing to an end all the pessimistic prognoses related to the realization of the program.

Apart from the strengthening of economic stabilization trends and the restoration of macroeconomics balance, 1995 was marked by the realization of a number of vitally important endeavors in the economic life of Armenia. The Metzamor Atomic Plant, the Araks bridge, the reservoir of Her-Her, the Ijevan-Tavush highway, and several branches of military-industrial complexes were all put into operation this year.

I would like to ascribe special importance to the work of all experts, scientists, and constructors involved in the restoration and reopening of the Metzamor Atomic Plant, thanks to which Armenia partially restored its energy independence. To all the employees of the Atomic Plant: I wish you all the best, convinced that you will regard the undisturbed and secure exploitation of the plant as your sacred duty and honor of the state.

Along with social and economic stabilization, and the realization of vitally important constructions, 1995 will be highlighted as a crucial year for Armenia in the strengthening of democracy and the accomplishment of the state system. I refer to the July 5 parliamentary elections and especially the adoption of the Constitution, which is certain to have a durable, constructive value in securing the humans rights and freedoms of our citizens, the effective operation of executive authorities, and the stability of the state. In this respect I would like to thank the Armenian people for the high civic duty and the wise choice exhibited on the referendum day.

I think it is obvious that the mentioned achievements in economic development and state construction would not have been possible if not for the cease fire established and maintained in Nagorno Karabagh, which I consider to be the most valuable achievement of our people. It is completely undeniable that the positive trends in socio-economic stabilization and the support of the international financial organizations are almost exclusively due to the cease-fire which has lasted a year and a half. Unfortunately, our people were obliged to experience the effects of war and peace in their life.

The peace should be regarded as the only condition for our existence, our security, and our economic prosperity since our people have all the other necessary conditions such as wisdom, mental abilities, courage, endurance, and business talent.

Therefore, I believe our primary task in the new year is the transformation of the cease-fire in Karabagh into a stable peace based on the fair solution to the Karabagh conflict.

I do not doubt a happy future for our people should the peace be established. I also do not doubt that Armenia will occupy its deserved place among the family of civilized states. I would like this to be viewed not as a mere statement of optimism but as a hopeful light sighted in our difficult situation.

Dear compatriots, unlike previous years, this time I will not call for your patience, but rather for peaceful and creative work for the sake and glory of our five-year old independent statehood.