We expect that restrictions on the export of agricultural products to Russia will be lifted, or efforts to diversify export markets will be successful. Finance Minister Vahe Hovhannisyan on Wednesday stated this during the debates on Armenia’s draft state budget for 2027 at the meeting of the parliament's Standing Committee on Financial-Credit and Budgetary Affairs .

According to the minister, these difficulties do not have any significant impact on Armenia’s state budget revenues. However, the need to assist those affected by the aforesaid export restrictions has led to additional expenses.

“Our scenario is not averaged. We have taken the most realistic scenario,” added Hovhannisyan.

The minister noted that a risk assessment is being carried out, and reserve funds are planned to mitigate their possible impact. At the same time, Hovhannisyan emphasized that he could not say to what extent these risks would materialize.

Referring to the current difficulties in exporting Armenia’s agricultural products to Russia, Vahe Hovhannisyan expressed hope that either these restrictions would be lifted or diversification efforts would be successful.

“In this regard, we have already achieved great success. At the same time, it is also important to note that the agricultural sector itself is not taxed. Therefore, there is no significant impact on our budget revenues,” the member of the Armenian government noted.

The minister of finance added that many people in Armenia work in this sector. According to him, the impact of the problems that arose this year was manifested in the need to make additional expenditures to assist them. However, according to the minister, the amount of these expenditures did not affect the presented budget scenario.