YEREVAN, NOVEMBER 25, ARMENPRESS. Eugene Zhukov, Director General for Central and Western Asia of the Asian Development Bank, notes that due to the situation in Ukraine, there is a large inflow of capital and professional skills to Armenia, and he congratulates Armenia on the economic activity index of the first 10 months of this year, Zhukov said at a press conference held in Yerevan, answering the question of ARMENPRESS.

He noted that at the beginning of this year, when military operations began in Ukraine, such partners as the International Monetary Fund, the World Bank, the Asian Development Bank were making very gloomy predictions about the global economy this year. "But during the year, not only in Armenia, but also in the whole world, the economic situation was much better than had been predicted," said the Director General for Central and Western Asia of the Asian Development Bank.

Zhukov emphasized that it may sound strange, but Armenia and neighboring countries benefited from the military operations in Ukraine in a certain way, noting the significant inflow of capital and professional skills to Armenia, and the relocation of certain companies to Armenia.

Referring to the observation that according to the latest published indicators, the economic activity index of Armenia increased by 14.5 percent in 10 months, Zhukov said. "Taking into account the numbers you presented, we should congratulate Armenia for this year's economic indicators. But there are hidden risks. Is this effect permanent or temporary? I think some analysts could argue that this effect could be a one-off. We all believe that the Armenian government should continue the reform process to ensure that economic growth continues."

According to the indicators published by the Statistical Committee of the Republic of Armenia on November 25, the indicator of the economic activity of Armenia in January-October 2022 increased by 14.5 percent compared to the same period of the previous year.