Armenia's PM: We are directly on the verge of recession

Armenia’s government is undertaking measures to stimulate the economy and overcome the harsh crisis phenomena in the conditions of coronavirus pandemic, Armenia’s Prime Minister Nikol Pashinyan stated at Eurasian Inter-Governmental Council's video-conference today.

“Unfortunately, we are on the verge of recession. Apparently, it will be impossible to avoid it. Nobody knows the scenario of this crisis and how long the pandemic will last. In the created unprecedented conditions it is necessary to ensure uninterrupted functioning of free trade regime in the sidelines of the EAEU, restriction of products and services inside EAEU is inadmissible. The uninterrupted cargo transportation in the EAEU is of prior significance for Armenia,” the head of the Armenian government said, adding that Russian-Georgian border is of vital strategic significance for Armenia.

The PM also thanked Russian government for support, and voiced Armenia’s readiness to assist EAEU partners within its capacity.

“We must reinforce our union even in conditions of pandemic and serious challenges of the growing recession. We must prove the viability of our organization and be ready to get use of the economic opportunities that may be created in post-crisis period,” Pashinyan stated, voicing readiness to host regular session of EAEU Inter-Governmental Council in fall this year.