Agricultural and food security is extremely vulnerable in Armenia, according to economist Tatul Manaseryan.

“Armenia has been exempt from VAT for agricultural products import for the initial six years of its membership in the World Trade Organization. During these years, the country was expected but failed to avoid serious shocks,” Manaseryan told reporters on September 23.

“As result of inferior policy, the price for 1 kg of potato fell to AMD 25 to grow tenfold this year,” he said. “As to grains, Armenia is strongly dependent on global prices.”

However, the economist said, Armenia is capable to develop its own economic policy to be less dependent on world prices.

“The country can fully satisfy the internal market demands and prevent abuse by importers,” Manaseryan concluded.