The International Monetary Fund has already stated that the year 2020 will be a year of decline for world economy. This is what Prime Minister of Armenia Nikol Pashinyan stated in his address today.

“Based on certain evaluations, the decline will be deeper than the decline recorded during the economic crisis in 2008-09. The forecasts for Armenia are currently positive, but it’s clear that Armenia is going to lose the pace of growth that it had in 2019.

However, the Armenian government views this as a new opportunity to change Armenia’s position in world economy.

There is going to be a $3 trillion-dollar drop of the global GDP, meaning there will be that many free spots in the global market. Starting today, Armenia needs to be disposed to have at least the $30 billion-dollar sector in the course of the next five years.”

Pashinyan emphasized that Armenia didn’t and doesn’t have a deficit of food during the pandemic, unlike many developed countries.