MINISTER: ARMENIAN GOVERNMENT DISPOSES OF RESOURCES TO COUNTERACT FINANCIAL CRISIS BUT NO NEED TO PUT THEM INTO USE

ARKA
Nov 12, 2008

YEREVAN, November 12. /ARKA/. The RA Government disposes of enough
resources and programs to react to possible challenges and dangers of
the world financial crisis, said the RA Minister of Finance Tigran
Davtyan.

"However currently there is no necessity for that, especially in
financial and banking sectors as the banking, finance and budget
sectors are in a normal condition and operate normally," he told
reporters on Wednesday.

Minister Davtyan assured the financial crisis did not affect Armenia.

However he believes the next year will not be easy for world economy
and the Armenian Government knows what to do in case of necessity
and how to assist the country’s financial institutes.

Davtyan stressed the 2009 will not be "a year of luxury for the world
economy". According to him Armenia will manage to keep a continual
economic growth in the future, though not as fast.

"Not many countries are able to ensure a stable economic growth in
current conditions. We have to take every measure to ensure a growth
and go through the difficult stage next year," the Minister noted.-0–