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“It is a severe financial crisis, to which the governments of Artsakh and Armenia are not giving enough time”. Ruben Vardanyan

March 30,2023 15:15

“The government of Armenia has provided 144 billion drams of budgetary support to Artsakh for 2023. Based on these figures, what do you conclude from the point of view of the vitality of Artsakh? What changes should be made in the economy so that the internal potential is also used in such situations?” during the publication of the “Report on the Assessment of the Losses of the Artsakh Economy Due to the Blockade” via a video call to former Minister of State of Artsakh Ruben Vardanyan asked one of the journalists.

Ruben Vardanyan answered: “Yes, it was sent, and we consider it important. This report is an important tool for us if we want to receive help and support from international organizations and countries. With this, we are presenting the situation in Artsakh: the situation around food, gas, electricity problems, and people’s problems, but we are not able to present it accurately, professionally, at the international level so that you can see what is happening to our economy every day, how much loss we have every day. If they understand our situation, they should provide deep support because we are losing big money.”

Ruben Vardanyan says the situation is more complicated than the report’s numbers can speak. “We had a budget deficit. We have a decline in taxes. It is a general acute financial crisis, to which the governments of Artsakh and Armenia should provide more time. Closing the daily expenses will not solve the problem. In general, we have a more profound question: which economy can work effectively in a blockade if you cannot take your products to Armenia and bring raw materials from Armenia? More than ten thousand people are unemployed, so the model of change needs to be deeply discussed in society. There are a few examples in other countries where 120,000 people have been under siege for more than 100 days. Therefore, such serious issues are not sufficiently discussed and researched.”

The report was prepared by a professional group of economists led by international public finance management consultant Vardan Aramyan on the order of Ruben Vardanyan, former Minister of State of the Republic of Artsakh.

 

Luiza Sukiasyan

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