The Armenian government will not compensate the business entities’ losses in Yerevan’s Surmalu shopping market explosion on August 14. Minister of Economy Vahan Kerobyan announced this at the press briefing after Wednesday’s Cabinet meeting of the government.

According to him, if the business owners in Surmalu had insured their property, they would have received the necessary compensation.

"The government cannot take on the burden of paying the compensations that the insurance companies have to bear. And if the businessman did not consider that risk considerable, then the government has nothing to do here. I believe that Armenian business should learn to work with high standards. And if the property and funds need to be insured, then he should do it," said Kerobyan.

The economy minister added that the Armenian government was discussing only the matter of providing social assistance to those affected by the aforesaid explosion.