YEREVAN. – Due to economic difficulties, the government of now former Prime Minister Hovik Abrahamyan was forced to increase the state budget deficit of Armenia, economist Vilen Khachatryan said at a press conference on Saturday.

As per the economist, the reasons are known: external shocks, including with respect to Russia—i.e. the drop in exports to Russia, and the decline in remittances to Armenia from this country.

Khachatryan added that the external debt of Armenia rose by US$1 billion, during Abrahamyan’s 2.5-year tenure as PM.

Prime Minister Hovik Abrahamyan resigned on Thursday.