Economist: Russia can destroy Armenia's economy

Karen Adonts, PhD in Economics, stated during his interview with Armenian media that if Armenia has serious problems with Russia, it will have an impact on Armenia's economy equal to the consequences of the three Spitak earthquakes.

The expert noted that Armenia's economic dependence on Russia is not just big, it is huge and has only increased over time, Caliber.Az reports.

"More than half of tourists come from Russia, the main share of exports goes to Russia, not to mention infrastructure and energy. If Russia does not just issue a warning, but takes real steps, as happened recently with cognac, the consequences are hard even to imagine. The situation will be terrible. That is why we need to calculate the steps and statements, they must be balanced, otherwise, economic growth and other effects will collapse very quickly," said Karen Adonts.