The government's announcement about the European Union: risks and possible consequences
1 min read
📺 The government announced its decision to enter the European Union, which could cause major political and economic problems, especially when economic ties with Russia have strengthened several times over since 2018. The real numbers show a different picture.
Some context:
During 2018-2024, significant changes occurred in Armenia’s foreign economic relations: dependence on the Russian Federation has grown several times:
➡️ Exports to the EAEU have increased more than 5 times: from $628 million in 2018 to $3.4 billion in 2024,
➡️ The volume of exports to the EU has decreased: dropping from 28.7% in 2018 to 4.5% in 2024,
➡️ The volume of bank transfers from Russia to Armenia has increased 3.5 times: reaching $3.5 billion in 2024 from $1 billion in 2018.
