Ministry has not yet looked into possible impact of developments in Russia on Armenian economy- minister

Ministry has not yet looked into possible impact of developments in Russia on Armenian economy- minister

YEREVAN, March 11. / ARKA /. Armenia’s economy ministry has not yet looked into a possible impact of economic and political developments in Russia on Armenian economy, economy minister Vahram Avanesyan told reporters today.

According to Russian statistics, GDP growth in January slowed to 0.7 % from one percent in December. Russian deputy economic development minister Andrei Klepach said the agency expects the economy to exit from stagnation in the second or third quarter of 2014.

"We can not prepare for something of which we have no idea. But it is clear that the state of Russian economy is important to us as we are linked to it by  numerous connections and its weakening will have an adverse effect on our economy,’ Avanesyan said, adding that  the problems of the Russian economy will not affect Armenia’s  intention  to join the Customs Union.

Asked whether EU’s or US sanctions against Russia would have consequences for Armenia the minister said such moves could not go unseen.

"In any case, if sanctions affect the economy of our partners, whether it is Russia, the EU or the United States, of course, it's not good for us,” he said. -0-

14:38 11.03.2014

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