Former Minister of Economy Nerses Yeritsyan wasn’t sacked but transferred to another position, spokesman for the ruling Republican Party of Armenia said.

“Mr. Yeritsyan will continue his career as economist,” Eduard Sharmazanov told journalists on December 20.

As to new Economy Minister Tigran Davtyan, he said that the appointment was a normal phenomenon, as Davtyan used to be a Deputy Minister of Economy for a long time before.

On December 17, Armenian President signed a decree to release Economy Minister Nerses Yeritsyan of his duties. Yeritsyan was replaced by Finance Minister Tigran Davtyan.