YEREVAN, NVEMBER 1, ARMENPRESS. Oil and copper prices will decline in the international markets in the near future which will have an impact on the Armenian economy, ARMENPESS reports acting Minister of Finance of Armenia Atom Janjughazyan said during the discussion of the state budget of 2019.

“In general, the pace of growth from the point of view of the global economy is stabilizing, but in partner countries, there is a trend of slowdown in growth, particularly in Russian and the EU member states. It’s predicted that the global economy will grow by 3.9% this year, and the same in 2019. We have to take into account the tendencies of foreign trade and global economy. Copper price decline to some extent is predicted, which will have some impact on our economy. The next is oil, which is also a key economic factor for our strategic partner, which is important in terms of the economic development of Armenia, and here also there are predictions of decline”, the acting minister said.

According to Atom Janjughazyan, this can become a reason for thinking about diversification of economy in Armenia and diminishing the dependence on any factor to a minimal level.

Edited and translated by Tigran Sirekanyan