YEREVAN. – The Eurasian Economic Union (EEU) is actively discussing the temporary reduction, or complete cancelation of customs duties on some important economic and social goods. Armenia’s Deputy Minister of Economy Varos Simonyan stated this during a meeting with journalists on Wednesday. According to him, which products will be a priority is currently being discussed.

At the same time, he recalled that the European Union (EU) has decided to provide €92 million to Armenia to support the healthcare system, vulnerable segments of the population, as well as small and medium-sized enterprises. "The amount may be increased, given that the EU plans to allocate a total of €20 billion to various countries under the Team Europe program," he noted. "In addition, €80 million will be provided under the Eastern Partnership program, which will be distributed among all participating countries. The EU could also provide an additional €880 million through financial instruments to stabilize the economic situation in the regional countries.”

Anna Ohanyan, the spokesperson for the minister of economy, stated that the EU will provide €456,500 to support Armenia's agriculture.

In his turn, other Deputy Minister of Economy Avag Avanesyan stressed that the government will direct the $280 million provided by the International Monetary Fund at eliminating the consequences of the novel coronavirus in Armenia. "The Armenian government can choose for itself what to spend that money on," the official explained. "The funds will be used to strengthen the healthcare system, as well as to mitigate the social and economic consequences."

As for the predictions by various international organizations on the downgrading of Armenia's rating, they, according to him, are not substantiated, taking into account the current crisis situation around the world.