14:38,

YEREVAN, MARCH 11, ARMENPRESS. According to assessments of various international organizations the sanctions against Russia could lead to 6-10% economic decline, and Armenia will also be impacted, expert Meri Hovsepyan from the Amberd Analytical Center said at a press conference.

“Naturally Armenia will also be impacted given the fact that Russia is our main trade-economic partner. Recently Amberd Analytical Center released expert assessments according to which 1% economic decline in Russia could lead to 0,7% decline in Armenia. This means that if a 6-10% decline were to happen in Russia, the decline in Armenia could be around 4-6%,” she said.

Hovsepyan added that the sanctions against Russia have impacted Armenia’s exports because supply chains are disrupted, in some cases also suspended, which created risks and obstacles for Armenian exporters.

“In addition, we will see the impact in the form of transfers and investments. And naturally in the context of this all the transfer volume will drop,” Hovsepyan said.

The expert also drew attention on the issue of food security, noting that the EAEU countries have already implemented procurements for the 2021-22 season and if in that period any member-state, including Armenia, were to have the need for additional imports then this could be done through a licensed process.