Professor: Armenian economy’s growth depends on continuation of war in Ukraine

REGION  01 December 2022 - 15:04

Armenian Doctor of Economic Sciences, Professor Tatul Manaseryan has said that the export volume from Armenia to Russia increased by 80 per cent due to the war in Ukraine, while the economic activity increased by 17.5 per cent in Armenia in October 2022.

In particular, the economic activity in Armenia grew after the influx of relocators from Russia, Caliber.Az reports citing the Armenian media.

During a meeting with Russian President Vladimir Putin last week, Armenian Prime Minister Nikol Pashinyan reported an 80 per cent increase in export volume from Armenia to Russia compared to last year.  

According to the weekly macroeconomic review of the Eurasian Development Bank, economic activity in Armenia reached 17.5 per cent in October 2022.

“The further growth of the Armenian economy depends on whether the war in Ukraine continues. If not for the war, people would not arrive here, and nothing would have happened. I think that each country must, first of all, rely on itself, rather than on external factors,” the professor emphasised.

Manaseryan noted that Armenia should maintain and improve worthy relations with Russia.

He added that today these relations are not at a high level.

Manaseryan said that the Ukrainian war affected Armenia both at the level of the US dollar exchange rate and at the level of exports.

 The professor said that all these figures and data should initially be analysed and planned by the state.

“The state should tell us about the policy for next year. The government must have a clear programme, and a strategy that must be implemented, regardless of whether there is a war in neighbouring countries or not. It also has to inform about the budget prepared for a country that lives in peace, or is at war,” he added.

Caliber.Az