Armenia’s PM: Biggest problem now is uncertainty

The biggest problem in the global economy is uncertainty, Armenia’s Prime Minister Nikol Pashinyan said in an interview with Shant TV.

“The situation with coronavirus in the world makes it difficult to say what is beneficial and what is not,” the head of the government said, asked whether the decline in oil prices in the world is beneficial for Armenia or not.

“The world stocks are in stand-down because no one knows how this epidemic will affect the economic and consumer behavior of the people. Currently we can tell only one thing, the world we were living in in January has completely changed,” Pashinyan said.

The PM said the biggest uncertainty is what the people will spend money on after the coronavirus, what they will prefer, how they will earn money.

“The position of our government is the following – these uncertainties will open new opportunities for us, consequently we must view it not as a tragedy but as an opportunity for Armenia to strengthen economically. I hope it will not sound cynical but the economic revolution we were talking about views this situation as a starting point,” he said, adding that it is a signal that the time for economic revolution has really come.

“Everything is collapsing now, and we have a big construction area and must think of building new life, new state, new opportunity, new economy, new society,” the PM said, urging to view the situation as a new opportunity.