YEREVAN. – Armenian Economy Minister said any reforms always bring winners and losers.

Speaking during the Eastern Partnership business forum in Vilnius, Vahram Avanesyan said liberalization and privatization held in Armenia in the 90s were good for the county, but there were still many who lost.

Minister Avanesyan recalled that Armenia is a country of 80-percent private economy. For instance, banking is under private control.

He noted that there will also be losers during the reforms conducted with EU support, but it is necessary to hold reforms anyway. The government must understand the results of any reforms, Avanesyan added.