It is still early to assess what damages Armenia’s economy will sustain this year, but it is natural that the losses will be significant. This was stated by Minister of Economy Tigran Khachatryan during a press conference held within the government. He noted that in this situation, we should all be concerned that the public sustains as little health damage as possible. “Unfortunately, 2020 is the year in which we must be careful to have few economic damages, but we must also accept the idea that it will not happen without significant losses,” he noted.
Tigran Khachatryan addressed the question of whether there are calculations as to how much damage the RA economy has already sustained in the month of March.
“Regarding the month of March, we have certain indicators; we conducted a survey among the private sector, particularly among those organizations that, due to various factors, have already limited the scope of their economic activity from mid-March or earlier. They number more than 1,200 companies that participated in that survey. The volumes that have been reduced are considerable. It is still early to give assessments for the year, because it depends on how quickly we can bring the phenomena related to the spread of the ‘Corona’ virus under control, or how quickly we can liberalize those types of activity that are currently restricted. We believe that from the moment we come, with the public’s consent, to the conclusion that we can gradually create the opportunity for organizations to return to their normal life, the situation will be corrected,” he said.
