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Expert urges to diversify economy to cut dependence on world prices

Expert urges to diversify economy to cut dependence on world prices

PanARMENIAN.Net - An International Conference to Examine the Future of Mining in Armenia is ongoing in Yerevan.

At the event, the Director of the Centre for Social Responsibility in Mining at the University of Queensland, Australia advised searching for alternative sources of development without solely staking on mining industry.

“Prices may always vary,” Mr. Saleem Ali said, commenting on the influence that fluctuation of world prices has on mining products that Armenia greatly depends on.

“Fluctuating prices mustn’t stop Armenia from developing mining industry,” the expert said, instead urging for diversification of the country’s economy.

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Annual deflation in the country was at 1.9% in August, compared to 1.3% deflation in July, according to central bank data.
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