Economist Bostanjyan: Armenia completely in risk zone

Economist Vardan Bostanjyan has said that Armenia is completely in the risk zone.

"The exchange rate depreciation has had an impact on nominal GDP per capita growth, which in itself carries a lot of risks. We are completely in the risk zone," Bostanjyan said in an interview with Armenian media, commenting on Armenia's nominal GDP growth, Caliber.Az reports.

"It has become a kind of flow of money, independent of our will, bringing joy, but we have fundamental problems with the economic structure: lack of industry and unstable agriculture. If communications are unblocked, our agriculture could be completely destroyed.

In addition, perhaps the availability of money in the country is not only due to the Russian-Ukrainian conflict, but also to some extent to the inflow of funds from neighbouring countries. However, there is a risk that this "stream" of funding will one day dry up. At the moment, the apparent prosperity may be temporary. We cannot move forward without creating new values," Vardan Bostanjyan added.