ArmInfo.This year, Armenia will increase the volume of brandy exports to the Russian market, but the profitability will decrease. Armenian Minister of Economy Vahan Kerobyan voiced similar assessments in an interview with Azatutyun.
He explained this by the fact that numerous European manufacturers left the Russian market, which will allow Armenia to increase its share in this segment. Given the expected losses in value terms, Kerobyan announced a number of initiatives being discussed at the Ministry of Economy, which will provide extensive assistance to exporters.
According to him, we are talking about loans with a grace period for processors, mainly exporting enterprises, providing financing to replenish working capital, etc.
It should be noted that according to the Statistical data, in 2021, 46.7 million liters brandy were produced in Armenia, which is 19.2% higher than a year ago (against a decline of 9.9% in 2020). For unknown reasons, the Customs Service of Armenia does not publish data on the volume of brandy exports.
