Armenia will start feeling the real economic consequences of the Russian-Ukrainian conflict in five to six months, economist Suren Parsyan told Armenian News-NEWS.am.

He explained that the Russian-Ukrainian conflict has caused major shocks in the world markets, noting that Armenia is already feeling the consequences to some extent and will continue to feel them in the next few years, as the pace of economic activity is decreasing, and the agricultural sector has also fallen.

According to him, the Armenian economy may register a general decline this year.

"The [Armenian] authorities (…) should develop an anti-crisis policy and review the monetary policy. (…). It is important to stop the decline of agriculture and ensure growth by providing subsidies to farmers—not to the banks. It is also important to use the potential of the [Armenian] diaspora," Parsyan stressed.

The economist expressed a conviction that without all this, the economic situation in Armenia will be worse than in 2020 when the economic decline in the country was 7.4% despite a 3% decline in the world economy.

"Taking into account the negative trends in the world and the shocks that await us, the [Armenian] government must switch to an anti-crisis management regime," Suren Parsyan concluded.