Armenia experienced deep economic and social crisis as a result of radical structural changes in political, economic and administrative systems at the beginning of 1990s. In 1990-93 , Armenian GDP decreased more than two times and in 1993 it was only 46.9 % of 1990 level, the largest decline in GDP among CIS countries. The consequence was widespread impoverishment of the population and striking income inequality. Though later economic growth in Armenia restarted (from 1994) and continues until now at a rate averaging about 7 % annually , serious economic and social problems , in general , are not overcome.