YEREVAN. – The expected natural gas price reduction in Armenia will have a positive impact on the country’s economy, and the amount—or level—of this impact depends on the amount of reduction, Minister of Economy Artsvik Minasyan told reporters, within the framework of a conference on Wednesday.

In his words, the decrease in natural gas prices will lead to lower electricity tariffs in Armenia, and this, in turn, will result in a reduction in cost price and an increase in the competitiveness of local products.

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“It’s natural that it [i.e. the expected gas price reduction] will also impact the prices of goods, since if we are speaking about a lower cost price and the formation of a competitive climate in the market, it’s apparent that this will lead to a certain reduction in prices,” the minister stressed.

Also, Minasyan noted that the Ministry of Economy is conducting a study to select the economic targets that will ensure maximum output from the expected gas price reduction.