Armenia’s affiliation to EEU not to affect Armenia-IMF relations negatively: Mark Horton

YEREVAN, SEPTEMBER 30, ARMENPRESS: International Monetary Fund (IMF) predicts rapid change of work with Armenia after affiliation to the Eurasian Economic Union (EEU), International Monetary FundMissionChieftoArmenia Mark Horton told journalists, Armenpress reports. “It is important to maintain our friendly relations with Armenia like in the recent 20 years,” he said.

According to Mark Horton, after Armenia’s affiliation to EEU some financial flows to Armenian economy are expected, particularly, Armenia is expected to get 1% or more of the general volume of the customs revenues of the EEP member countries.

“If all the conditions remain unchangeable and all remain equal, it will mean that Armenia will receive much larger sum of money than it gets presently by custom duties. It is important for the Armenian to have distinct plans on the ways of spending that money,” he underlined.

The speaker said that after the affiliation there will be developments within the limits of predictability. Risks will rise connected with geopolitical developments, Ukrainian crisis, economic sanctions imposed against Russia, but they will not necessarily bring to deterioration of the situation.