Government Aims to Diversify Economy, Not Against or For Any Market: Papoyan

Armenia is constantly preparing for the ongoing increase in the resilience of its economy. This was stated today by the Minister of Economy, Gevorg Papoyan, during a question-and-answer session with the government in the National Assembly, in response to a question from Sergey Bagratyan, a member of the Civil Contract faction.

Bagratyan inquired whether Armenia is prepared for a potential transition from the EAEU to the EU, if necessary, and whether risks are being assessed to neutralize them as much as possible and to ensure a smooth transition if required.

Papoyan noted that the government is trying to diversify the economy, emphasizing that this diversification is not being done against or for any particular market. “We are striving to be dependent on as many parts of the world as possible, and if feasible, to make different countries dependent on us as well. This also has security implications for us. In these changing times, no single market can guarantee long-term stability and viability for any state,” Papoyan stated.

The Minister of Economy emphasized that Armenia is trying to have a presence in various international markets.