Russia's every step has a direct negative impact on Armenia, Gagik Makaryan, head of the Association of Employers of Armenia, told reporters, Monday.
According to Makaryan, many migrants were reluctant to leave their jobs and return to Armenia as a result of Russia's war with Ukraine. This has cut private transfers to Armenia and increased unemployment in the country. Anti-Russian sanctions have also affected the situation in the Armenian market. According to Makaryan, accession to the Customs Union does not mean Armenia will have favorable conditions for cooperation with such members of the Union as Belarus and Kazakhstan. This means that the only partner of Armenia is still Russia. According to Makaryan, Armenia's export position has tangibly decreased over the last period, as exporter companies are experiencing losses not only due to the changes in the foreign exchange market, but also as Russia demands them to reduce prices of the exported products.
Despite the general decline of oil prices in the world, Makaryan said, the fuel prices in Armenia will not change due to the relevant interstate agreement with Russia, which cannot but affect the country's economy. According to the surveys conducted by the European Bank for Reconstruction and Development, no economic development is observed in Armenia in 2015. According to Makaryan, economic indicators of Armenia may be even negative in 2015.
Talking to ArmInfo, Makaryan said Armenia has to pay more attention to the developing Arab countries to boost cooperation with them. This will help settle the current economic problems in the country, he said.