YEREVAN. - Armenian businessmen might hide their export to Russia, Prosperous Armenia party MP and economist Vardan Bostanjyan told Armenian News – NEWS.am today, commenting on the fall in the volume of export from Armenia to Russia.

In his words, considering the fact that Armenia has acceded to the Eurasian Union and working in the shadow has become harder, businessmen-monopolists could find ways to move part of their export into the shadow.

“A minimal transparency level must be ensured in the Eurasian Union. Our economy lacks competition, and the possibilities of export are concentrated in the hands of a small number of businessmen. It’s quite possible they are hiding certain part of their turnover,” he said.

According to the data of Armenia’s National Statistical Service, export from Armenia to Russia decreased by 35% in January-July 2015, making up approx. $107,3 million.