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Armenian economy grows largely due to close trade co-op with Russia - MFA

Politics Materials 26 October 2023 17:50 (UTC +04:00)
Armenian economy grows largely due to close trade co-op with Russia - MFA
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, October 26. The Armenian economy has grown rapidly in recent years, growing by 12.6 percent in 2022, and the population's well-being has increased significantly as a result of close trade and economic cooperation with Russia, the implementation of large joint projects, and the country's membership in the EAEU (Eurasian Economic Union), Spokesperson for Russian Foreign Ministry Maria Zakharova said during a weekly briefing, Trend reports.

"Armenia's exports to member countries increased by $1.6 billion in 2022, nearly tripling that of 2021." Russia is the country's largest investor in the Armenian economy. "It accounts for nearly half of all foreign injections," she added.

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