YEREVAN. – Inflation is expected in Armenia after its January accession to the—Russia-led—Eurasian Economic Union (EEU), economist Artak Manukyan told Armenian News-NEWS.am.
He noted that once joining the EEU, the imposed sanctions against Russia will probably be imposed against Armenia, too.
In addition, as per Manukyan, the fact that the average customs duties in Russia are higher than those in Armenia also will be a factor in this inflation.
In the economist’s words, the price of any product, which is sold in Russia at high prices, will rise in Armenia, as well.
As per Manukyan, the increase in the foreign currency exchange rate also will have a bearing on the expected inflation in Armenia.
According to the economist, judging from the trends in Russia, even though the prices of electric appliances and fuel will either drop or remain the same in Armenia, there will be a price hike in the general consumer goods.
Manukyan noted that considering Russia’s attitude and the inflation in the global market, the price of wheat will rise, too.
Artak Manukyan added, however, that Armenia’s forthcoming accession to the Eurasian Economic Union will have a positive impact on investments in the country, and that it may be full of prospects for tourism development in Armenia.