Turkish-American economist Daron Acemoglu, the acclaimed ethnic Armenian economist who was personally contacted by Prime Minister Nikol Pashinyan shortly after his election for assisting in restoring the country’s economy, says he is certain that “a public transformation is needed in Armenia which will open a road to a more competitive and dynamic economy.”

Speaking to Istanbul’s Turkish-Armenian Agos newspaper about his phone call with the news Armenian Prime Minister, Acemoglu argued that the Armenian economy has suffered from corruption.

“Only the Armenian society can lead such a change,” he argues.

According to Acemoglu, the Armenian Prime Minister called him and asked whether he would like to help.

“As someone being outside of that country I don’t know how and to what extent I’ll be able to help, however I told him that I would be happy to make efforts in that direction. I would like to visit Yerevan at a convenient time but the date is still unclear due to personal reasons”, he said.

“We must all be hopeful in the issue of Armenia’s future”.

Acemoglu claims that Armenia’s political system is “based on bribery” and “it won’t be easy to eradicate the corrupt system”.

Earlier on May 13, five days after being elected Prime Minister of Armenia, Nikol Pashinyan said that he has phoned Daron Acemoglu, the acclaimed ethnic Armenian economist. Acemoglu was born to Armenian parents in Turkey and holds dual Turkish/US citizenship.

According to Pashinyan, the economist had said that he is ready to assist Armenia in restoring and developing the economy. “Mr. Acemoglu accepted my invitation to visit Armenia”, the PM had said.

Acemoglu has been teaching at the Massachusetts Institute of Technology (MIT) for many years. He is considered a global authority in modern economics.