YEREVAN. – Rise in electricity prices will “kill” Armenian producers, economist Vazgen Safaryan said.

“Many productions will stop working. In the end of the day the share of energy is 50% or more of the cost in the finished products, whether it's gas or electricity. No one will simply buy our products abroad,” Safaryan said.

The current electricity rate is 41.85 drams per 1 kWh during the day and 31.85 at night. However, it is proposed to increase the rate to 58 and 48 drams respectively. Moreover, Energy Minister Yervand Zakharyan said petition for rise in price of electricity in Armenia is justified.