A liberal foreign investment law was approved in June 1994, and a law on privatization was adopted in 1997, as well as a program of state property privatization. Continued progress will depend on the ability of the government to strengthen its macroeconomic management, including increasing revenue collection, improving the investment climate, and making strides against corruption. However, unemployment, which was 18.5% in 2015, still remains a major problem due to the influx of thousands of refugees from the Karabakh conflict.