YEREVAN, AUGUST 2, ARMENPRESS. The ferry communication will be launched in August. The schedule will be released in coming days. As for the Upper Lars border checkpoint, the clearance capacity for Armenian cargo has increased by around 10% in July compared to June. Support is envisaged for some sectors that were affected from the appreciation of the Armenian dram, Minister of Economy of Armenia Vahan Kerobyan said in an interview to ARMENPRESS.

Talking about the macro-economic indicators in the first half of 2022, as well as the 11.8% growth in economic activity index in six months, the minister noted: “11.8% is the best one in the past 15 years. However, we can’t, of course, say that everything ahead is very bright because both the whole world and particularly our region are full of challenges. And in this regard, we should strengthen, not weaken, our work in order to enhance the registered results also for the next quarters and years”.

As for the 5.5% decline in agriculture in the first half of the year, the minister mentioned the problem of collection of data and absence of digital data. “I think, it is not in accordance with the reality as we see that the export and release of agricultural goods have really been increased, this could not happen if agriculture declined”, Vahan Kerobyan said.

The minister informed that at this moment law on agriculture is being drafted which aims at better managing the sector.

Commenting on concerns that this growth in economy is short-term, there will be problems in economy if tourism flow stops, the minister stated: “We are confident that this growth, the output are not a short-term, but quite the opposite, they are a long-term. In addition, the potential, which will allow us to grow in next years, is also growing. The government aims at raising the productivity, thus, the potential of Armenian companies”. He highlighted the economic upgrading program by which companies can purchase devices, equipment, and the government will finance the interest rates of these loans, leasing.

As for the problem of queues in the Upper Lars border checkpoint, the Armenian Minister of Economy said that he and his Russian counterpart have tried to give solutions to the problem on the spot and have agreed that a second space should be provided for customs clearance, which has been done.

“And the clearance capacity of Armenian cargo has increased by around 10% in July compared to June. This is less than we expected because we believed that it should have increased by at least 30%. I am going to share this data with my counterpart. As for the queues, we have a progress, but not to the extent we expected. The discussions and works continue from this perspective”, the minister stated.

As for the launch of the ferry communication, Mr. Kerobyan said: “I think we will definitely launch it this month. It seems, all problems have been solved. And now, the only problem that should be agreed upon is that we should receive permits only for each product in order to be able to transfer this or that cargo. But generally, it seems, we are ready for the release of the schedule. It will happen in coming days”, he added.

Coming to the appreciation of the dram and some areas affected, the minister said that it affects the most important sectors, including investors, exporters, IT and constructors. We understand that there is a “red line”, below which the dram appreciation will be a painful blow to our economy. And in our view, that red line is 450 drams for 1 dollar. We also see the concern of the finance ministry and are trying to find the solutions that will mitigate the blow to our sectors in danger and that they could move forward in a profitable way”, he added.

He said that the first decisions on this direction already exist, adding that other decisions will be made also next week. These decisions and tools will help companies get the necessary “oxygen” thanks to which they will be able to develop effectively in this new environment.

Interview by Anna Grigoryan

Photos by Hayk Manukyan