YEREVAN, MARCH 28, ARMENPRESS. Around 850 million dollars in remittances flow into Armenia from Russia every year, but due to the situation in Russia this number could drop around 40%, Armenian Finance Minister Tigran Khachatryan said.

Speaking on Armenian exports to Russia, Khachatryan expressed confidence that Armenian exporters will overall find new opportunities. He cited similar situations of 2015 and 2016.

“In 2021 we had around 860-870 million dollars in exports to Russia,” he said, adding that the businesses got impacted when there were currency shocks and their debts were in rubles.

The finance minister didn’t give assessments as to how much this would impact economic activity in 2022.