The consequences of coronavirus will have a short-term significant impact on the Armenian economy, said Armenian finance minister Tigran Khachatryan on Thursday.

According to him, the decline in oil prices has led to instability in the global economy. 

Armenia, being an importer of oil products and energy resources, at first glance should have benefited from this. However, this situation hit the Russian economy, which is Armenian main market, and also led to a decrease in world prices for copper from $ 6,000 per tonne to $ 4800, he added.

The budget revenues from the export of these products last year amounted to more than $ 550 million, he noted. 

Tigran Khachatryan noted that tourism was also affected. The minister expressed confidence that these difficulties could create additional opportunities, therefore the Armenian government is now ready to encourage organizations that have developed a development plan in the new realities.