Armenian PM Nikol Pashinyan today told his cabinet members that the influx of people fleeing the consequences of the war in Ukraine is having “ quite good economic effects” for Armenia.

To prove his point, Pashinyan claimed that the number of cash transactions increased by 510,000 during the first twenty days of March when compared to last year.

“Turnover increased by more than 60 billion drams, more than 120 million dollars,” Pashinyan said, noting however that the socio-economic situation in Armenia is becoming more complicated.

Pashinyan said inflation in Armenia is still at a good rate when compared to many other countries.

“In 2019, when food prices were rising all over the world, Armenia was one of the few countries in the world where the opposite was happening - food deflation, because we removed the artificial monopolies. Armenia today is a free country in terms of imports and exports,” he said.

Pashinyan promised that the price of several important goods in Armenia will not increase, adding that his government will implement an economic policy to alleviate socio-economic problems as far as the budget allows.

Responding to criticism that the government is raising the salaries of law enforcement agencies, but not raising pensions, Pashinyan said that two things should be considered.

"First, it is one thing to increase the salaries of 500 people, 5,000, even 20,000 people. It is quite another to increase the pensions of 550,000 people or the salaries of 600,000. These are different budget expenditures. Moreover, those expenditures are not one-time deal. We are doing everything we can to fulfill our pre-election promises and vital decisions.”

He said the salaries of law enforcement agencies are being increased to guarantee the destiny and rights of ordinary citizens.

"Dear compatriots, you should know that we feel your pain. We are mindful of your needs and dreams,” Pashinyan said.