Nikol Pashinyan: The Armenian economy, like the global economy, is  collapsing, but all measures will be taken to develop industry, IT  and knowledge

ArmInfo. Like before the coronavirus pandemic, now the priority task of the Armenian  government is to develop the economy, including through the  industrial sector. On April 6, Prime Minister of Armenia Nikol  Pashinyan stated this during online questions and answers.

According to him, Armenia should become a country producing end  products, and not an exporter of raw materials.  He is convinced that  this approach is the key to success and cited the export of Armenian  building stones as an example.

The Prime Minister also emphasized that Armenia strives to develop  the metallurgical sector. Touching upon the possibility of  establishing smelters in the republic, he stated that this could lead  to wide debate related to the environment. In this context, he  assured that for the government the issue of ecology is a priority,  and industry in the country should develop taking into account all  the highest indicators for ensuring environmental safety.

Speaking about the steps taken by the government to overcome the  crisis, after the coronavirus pandemic is behind, the prime minister  noted that the executive body has a short-term and long-term program  for overcoming the current situation.

"We are talking about government investments, which will be followed  by other economic branches. We believe that the main task for us  should be the development of human resources, information  technologies. Our youth must understand where the divining line is  between poverty and opportunities passes, they must understand that  this line is knowledge, science, "the Armenian Prime Minister said,  adding that his team is now preparing a development strategy until  2050, some of which he submitted on August 5, 2019 in Stepanakert,  and which focused on knowledge.

Introducing a short, medium and long-term strategy for overcoming the  crisis, Pashinyan assured that, in principle, the strategy coincides  with the vector that the government had already outlined before the  crisis.

Clarifying the increase in prices on the main food products in  today's realities, the head of the executive body stated that Armenia  had lived for a long time against a background of very low inflation,  including low prices for food products, and in January and February  deflation was recorded. Generally speaking about the price increase,  he assured that he had instructed his team to study the situation,  and he could say that the bread did not rise in price, although there  are products that have risen in price and the government is concerned  over this fact. At the same time, the prime minister did not exclude  that the increase in prices for some products is associated with  fluctuations in the foreign exchange market and proactive measures  are being taken for this.

Pashinyan also recalled that an agreement was reached within the  framework of the Eurasian Economic Union, on those goods - about 600  items, which, after the end of the period of the customs exemption  regime, have risen in price since January 1, 2020. But a decision was  made to abolish duties for the next 6 months, and the old customs  rates will apply for these goods. He also called for no panic and no  worries, the supply is uninterrupted and there will be no hunger in  the country.

Pashinyan noted that a deep crisis not only in Armenia, but  throughout the world is inevitable. In fact, he said, the global  economy is collapsing today.