Armenia Will Lose Rating Due to Non-Exploitation of Amulsar Mine: Pashinyan

There is no risk of impact on the dram regarding the non-exploitation of the Amulsar mine. Prime Minister Nikol Pashinyan expressed this view during a press conference held in Vanadzor today. He stated that problems will arise regarding Armenia's rating if the mine is not exploited.

“Armenia will face issues related to reputational risks, which can create a chain of problems. However, on the other hand, if Armenia pursues the truth to the end, which will clarify that this mine cannot be exploited according to our laws and environmental standards, then Armenia will bear no reputational risk because it will prove, in every respect, that it was right—fully corresponding to Armenian and international law,” he said, adding that exploitation could also bring economic benefits.

At the same time, Nikol Pashinyan noted that regardless of whether Amulsar is exploited or not, Armenia's economic forecasts remain quite good. “We have set the goal of ensuring an economic growth of 8-9%. The years 2018-2019 were transitional; however, the current state of the economy does not give grounds to talk about a transitional phase. I clearly state that the economy has received our messages, and developments are taking place within that framework. We must make capital expenditures as maximally effective as possible so that their multiplicative economic effect is significant,” concluded Nikol Pashinyan.