Armenia's exit from the EAEU may slow economic growth by up to 5% - Minister of Economy Armenia's exit from the Eurasian Economic Union may lead to a slowdown in the country's economic growth by 0.6-1.6 percentage points. Economy Minister Geborg Papoyan said this in a briefing in Parliament. According to him, the direct impact of leaving the EAEU could be about 0.6 percentage points. Thus, instead of the predicted economic growth of 6.6%, the figure may drop to 6%. However, if additional negative factors arise, in particular the introduction of customs duties and complications in trade relations, economic growth may slow to 5%. For comparison: following the results of nine months this year, Armenia's economy grew by 6.9%. "In general, there will be, relatively speaking, four or five negative factors, but there will also be just as many positives," Papoyan said. The minister also emphasized the need for more active promotion of Armenian products in foreign markets. "If we acted not to ensure that the khachkars were installed abroad and decisions were made, but to export another 10 tons of Armenian goods to one or another country, then maybe Armenia would not have faced the problems it faced later," he said. It is worth noting that the estimates regarding the possible economic consequences of Armenia's exit from the EAEU differ significantly. Earlier, the representatives of Russia, Belarus, Kazakhstan and Kyrgyzstan prepared a report according to which the possible decrease in Armenia's GDP is estimated at 15.6%, or about 4.6 billion dollars. Thus, the estimate of the decline in GDP presented by the EAEU partners is more than ten times higher than the maximum slowdown in economic growth rates reported by the Minister of Economy of Armenia. At the same time, we are talking about different indicators, so it is not correct to compare them directly. Of course, the forecasts of other countries should not be taken as an inevitable scenario.

Armenia's exit from the EAEU may slow economic growth by up to 5% - Minister of Economy Armenia's exit from the Eurasian Economic Union may lead to a slowdown in the country's economic growth by 0.6-1.6 percentage points. Economy Minister Geborg Papoyan said this in a briefing in Parliament. According to him, the direct impact of leaving the EAEU could be about 0.6 percentage points. Thus, instead of the predicted economic growth of 6.6%, the figure may drop to 6%. However, if additional negative factors arise, in particular the introduction of customs duties and complications in trade relations, economic growth may slow to 5%. For comparison: following the results of nine months this year, Armenia's economy grew by 6.9%. "In general, there will be, relatively speaking, four or five negative factors, but there will also be just as many positives," Papoyan said. The minister also emphasized the need for more active promotion of Armenian products in foreign markets. "If we acted not to ensure that the khachkars were installed abroad and decisions were made, but to export another 10 tons of Armenian goods to one or another country, then maybe Armenia would not have faced the problems it faced later," he said. It is worth noting that the estimates regarding the possible economic consequences of Armenia's exit from the EAEU differ significantly. Earlier, the representatives of Russia, Belarus, Kazakhstan and Kyrgyzstan prepared a report according to which the possible decrease in Armenia's GDP is estimated at 15.6%, or about 4.6 billion dollars. Thus, the estimate of the decline in GDP presented by the EAEU partners is more than ten times higher than the maximum slowdown in economic growth rates reported by the Minister of Economy of Armenia. At the same time, we are talking about different indicators, so it is not correct to compare them directly. Of course, the forecasts of other countries should not be taken as an inevitable scenario.