Armenia won't be able to withstand this war for long - Azerbaijani economic expert
BAKU, Azerbaijan, Oct. 27
By Elchin Mehdiyev – Trend:
The cost of Armenia's military equipment, destroyed and captured as a war trophy from September 27 to October 26, showed that Armenia couldn’t afford to buy this weapon, it was transferred to it free of charge, Director of the Center for Analysis of Economic Reforms and Communication Vusal Gasimli said, Trend reports.
Economic analysis shows that Armenia won’t be able to withstand this war for a long time, and is still awaiting for an imminent collapse, Gasimli said.
He noted that the losses of this country are characterized not only by the amount of destroyed military equipment, the entire economy of Armenia has suffered colossal damage.
"There are already signs of a food crisis in Armenia, investors are fleeing the country, Armenia's credit rating has been lowered. In this case, Armenia cannot receive loans abroad. Its external debt exceeds 60 percent of GDP," said the expert.
"Armenia lost to Azerbaijan both on the battlefield and in the economic war. The resources of Armenia are many times less than those of Azerbaijan. Armenia's foreign exchange reserves are 20 times less than Azerbaijan's. Those who don’t want Armenia to lose support it. But this cannot last long. Armenia's only way out is to withdraw its troops from the occupied Azerbaijani lands as soon as possible," said Gasimli.
"Devaluation of the national currency is inevitable in Armenia. Currently, the purchasing power in Armenia has plummeted. Armenia is kept on its feet by foreign donations and this "aid" is already being reduced. From this point of view, Armenia will not be able to resist Azerbaijan for a long time," added the expert.