Surent Parsyan Highlights the Cost Required to Restore Direct Damage from Flooding

Flooding in the Lori and Tavush regions has a vast geographical impact. Eight towns and 30 rural communities have been affected, stated economist Suren Parsyan in an interview with ABC media.

"The flooding has caused significant damage. One of the urgent approaches for the government should be to direct all state resources towards this issue and to implement clear actions. The damage from the disaster can be divided into direct and indirect phases. The direct damages include infrastructure, housing, buildings, and business areas. It is still early to assess these damages, but considering the damaged roads, railroads, and building structures, my rough estimates suggest that around one hundred billion drams will be needed for recovery. There are also other damages. For instance, the livestock sector has also recorded serious losses," added Parsyan.

The economist emphasized the importance of quickly restoring the damaged railroad. "This railroad is of strategic importance for Armenia. A significant portion of imports and exports passes through this very railway. Specifically, we export minerals like copper and molybdenum via the railroad. This means that the mining industry has suffered indirect losses, as they cannot continue exporting," he noted. Parsyan also mentioned that to avoid economic issues in the near future, it is critical to prioritize the restoration of the railroad.