If the conflict against Iran is not ended, it will have a long-term negative impact on Armenia’s economy, Minister of Economy Gevorg Papoyan stated at Wednesday’s regular meeting of the Standing Committee on Economic Affairs of the Armenian National Assembly.

Papoyan expressed hope that the military developments around Iran will be short-term, and only then will the damage to Armenia’s economy be as minimal as possible.

"There are clearly still damages. We see that there are inflation risks in the form of an increase in the prices of some goods. Also, Armenia receives raw materials from Iran for the production of some goods, and in this case, inflation risks may also arise," the economy minister noted.

Papoyan reminded that Armenia has a fairly large trade with Iran, and it is clear that the prolongation of the conflict against Iran may have a long-term negative impact on Armenia’s economy.

"At the same time, when we generally follow the high-level statements of political figures, it seems that there is hope that, ultimately, the conflict will end in the near future, and in that case, I think we should no longer have great negative expectations," added the Armenian minister of economy.