Papoyan: Further escalation in Middle East to have negative impact on Armenia

Armenian Economy Minister Gevorg Papoyan has stated that the continuation of the US and Israeli operation against Iran may have a long-term negative impact on the country's economy, Report informs referring to Armenian media.

He made the remark at a meeting of the Standing Committee on Economic Affairs of the National Assembly of Armenia.

According to the minister, economic risks are already being observed.

"Losses certainly remain – we see inflationary risks in the form of rising prices for some goods. Furthermore, Armenia receives raw materials from Iran for the production of a number of goods, and in this case, inflationary risks may also arise," he noted.

He also noted the significant volume of trade with Iran and emphasized that prolonging the conflict could lead to long-term negative consequences for the country's economy.

"At the same time, if we generally follow the statements of high-ranking political figures, then it seems there will be hope that the conflict will ultimately end in the near future, and in that case, I think we should no longer have great negative expectations," the minister added.