Nevertheless, the government was able to make wide-ranging economic reforms that paid off in dramatically lower inflation and steady growth. The 1994 cease-fire in the Nagorno-Karabakh conflict has also helped the economy. Armenia has had strong economic growth since 1995, building on the turnaround that began the previous year, and inflation has been negligible for the past several years. New sectors, such as precious-stone processing and jewellery making, information and communication technology, and even tourism are beginning to supplement more traditional sectors of the economy, such as agriculture.

What did Armenia declare a cease-fire to in 1994?