Armenia’s economic policy needs a serious revision- ex-minister

YEREVAN, April 29. /ARKA/. Under the new realities Armenia's government needs to revise its economic policy, says former Economy Minister Armen Yeghiazaryan.

"It is necessary to change the economic policy very substantially. The main attention should be paid to the manufacturing industry," he said in an interview with ARKA news agency.

Yeghiazaryan stressed that a balanced policy is needed until it becomes clear what is happening in the world.

He also noted that Armenia should not distance away from Russia, although it needs to develop economic ties with Europe.

"We must use these opportunities, not to work out "gray schemes", not to cause problems, but try to strengthen our position in the region," he underlined.

On the prospects of Armenia's economic development under the new realities, Yeghiazaryan said he expects positive growth because of new "windows of opportunity."

"It makes no sense to break away from Russia in the economic sense yet, but diversification is needed. The instinct of self-preservation should be the main thing for us now. Today we have to balance, but what will happen tomorrow is still unclear," he said.

Asked whether Armenia has opportunities for diversification, he said, in particular, that it is necessary to fix the situation in the region, open communications and diversify the energy supply.

"In particular, the time has come after the sad defeat (in 2020) to somehow come to an agreement with Azerbaijan on energy resources. After the lifting of Iranian sanctions, Armenia can think about offering its territory for the transit of Iranian gas to Europe," he said. -0-