Speaking with reporters in the National Assembly Tuesday, Edvard Hovhannisyan, Chairman of the State Revenue Committee of Armenia, reflected to the question of to what extent the country’s tax revenues will reduced in connection with the forthcoming ban on goods imported from Turkey.

"At the initial period, we will have some reduction in tax revenues and customs duties. However, in terms of long-term planning, we are confident that our businesses and those in charge of the development of our economy can and will take appropriate measures so that the business [in Armenia] adapts to the new situation in a short time, and similar goods can be imported from other countries—first of all, from the [other] EEU member countries—and that negative impact will be recovered as soon as possible, whereas we have negative expectations in terms of short-term, " Hovhannisyan said.