ArmInfo. Large-scale changes may occur in the Armenian economy with the introduction of international standards in various sectors of our life- construction, food production, etc.
This viewpoint was expressed by the Chairman of the Central Bank of the Republic of Armenia, Martin Galstyan, during a press conference on May 6. "For example, we may decide to produce dairy products according to European standards. This is a natural opportunity for productivity in the economy, but we are aware that some businesses may also close," he explained. The head of the Central Bank noted that such decisions will certainly be difficult and painful. However, in his opinion, it is challenging to imagine another way to ensure the continuation of economic growth in the long term.
Additionally, Galstyan emphasized the importance of investing in education and R&D. "The country needs to have a stable macroeconomic situation, but many things must change through painful and difficult reforms that will enable us to implement higher standards than what we have today," he stated.
