MOSCOW, April 22. /TASS/. Joining the European Union would cost Armenia about 23% of its GDP, according to the most conservative estimates, Russian Security Council Deputy Secretary Alexey Shevtsov told reporters.
He also noted that Eurasian Economic Union (EAEU) members are unlikely to face a major negative impact if Armenia withdraws from the organization, as losses will amount to just hundredths of a percent.
TASS has compiled the main statements by the Russian Security Council deputy secretary.
Leaving the EAEU will trigger a significant economic decline in the country: "According to most conservative estimates, the GDP would fall by 15.1% (roughly $3.65 billion), domestic consumption would decrease by 14.1% and industrial output by 26.3%. The main damage would be to metallurgy, beverages, tobacco and food production, with declines of up to a third."
"Output in the chemical industry would fall by about a fifth, and by 15% in textiles. Inflation would rise by 14.3 percentage points, while unemployment would increase by 6.4 percentage points."
