The prestigious London-based magazine The Economist on Wednesday named Armenia as its "Country of the Year 2018."

The Economist has explained that the purpose of choosing this title is not to select the "most influential" or "richest" country, but rather to select the country that has made progress towards democracy in the past year.

The Economist notes that Nikol Pashinyan, a journalist and former MP, came to power “legally and fairly” following a “wave of discontent with corruption and inefficiency.”

The coalition of supporters of Armenia's interim Prime Minister Nikol Pashinyan managed to achieve a significant victory in the country's early parliamentary elections.

Pashinyan's supporters easily managed to overcome their main rivals by winning more than 70% of the vote.

The Economist continues: “An ancient country with a history of often troubled governance in a turbulent region now has the opportunity to achieve democracy and modernization. That is why Armenia is our Country of the Year.”