Prolonged Conflict with Iran Could Seriously Harm Armenia’s Economy, Minister Warns

YEREVAN — “If the conflict involving Iran does not end, it will have long-term negative consequences for our economy,” said Armenia’s Minister of Economy, Gevorg Papoyan, during a session of the National Assembly’s Standing Committee on Economic Affairs.

He expressed hope that the military developments surrounding Iran would be short-lived, which would help minimize the impact on Armenia’s economy.

“Even now, the damage is evident. We are seeing rising prices for certain goods, which signals inflationary risks,” the minister stated. “Additionally, Armenia imports raw materials from Iran for the production of some goods, which could further contribute to inflation.”

Papoyan also noted that Armenia maintains significant trade turnover with Iran, including both imports and exports. Therefore, any prolonged conflict could have lasting and adverse effects on the country’s economic stability.