Bagrat Asatryan: Armenia’s economy is already sick (video)

The sanctions the EU and US imposed on Russia after the Crimea referendum will also affect the economy of Armenia as our economy greatly depends on Russia, says economist Bagrat Asatryan.

The expert says Russia’s economic decline is almost inevitable after the recent developments.

Unlike Mr. Asatryan, economist Vardan Bostanjyan says the sanctions against Russia mainly refer to political figures involved in the breakaway of Crimea and will hardly affect Armenia.

Bagrat Asatryan says the impact will be felt in the summer, when Armenians doing seasonal work in Russia get less income.

The economist says Armenia’s economy is already sick and the country might appear in a terrible plight if the authorities fail to draw right conclusions.