Armenia needs economic transformation, Armenian Prime Minister Nikol Pashinyan told reporters on Wednesday.

Asked to comment on the decline in exports, the Prime Minister agreed with the facts, noting that the decline in exports was due to the closure of Teghut copper and molybdenum mine.

“This is what I call the transformation of the economy. But exports of brandy, finished products, agricultural products have increased. We hope that this year the volume of processed products will increase,”Pashinyan noted.

However, he said that the future is not in the mining industry.