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YEREVAN. – If it were not for the Eurasian Economic Union (EAEU) accession, Armenia’s situation would have been worse.

Vache Gabrielyan, Deputy Prime Minister and Minister of International Economic Integration and Reforms of Armenia, on Wednesday told the abovementioned to reporters.

To the query as to whether it can be said that the country’s EAEU accession is not justified at present, Gabrielyan responded:

“No, we can’t say [that] because the influence and economic factor which the EAEU has, especially the fall in the prices of energy resources, in this connection—the drop in the incomes of the population throughout the region and in the EAEU consumption—, and the factors in the decline in our domestic consumption as well as the decline in related remittances, still were to impact the Republic of Armenia, regardless of we are, or would not have been, in the EAEU. It’s thanks to the fact that we entered the EAEU that this impact has weakened.”

The deputy PM admitted, however, that even though they had greater expectations from joining the EAEU, these expectations were not fulfilled due to objective reasons that emerged in the global economy. To note, the Eurasian Economic Union comprises Armenia, Russia, Belarus, Kazakhstan, and Kyrgyzstan.

Gabrielyan, added that there is a slow but visible progress in the fight against corruption in Armenia. In his words, they have engaged four independent experts from international organizations in this fight, and they are tasked with revealing the respective shortcomings and offering solutions.

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