DISCUSSION ON SUBJECT "GLOBAL ECONOMIC CRISIS AND ITS CONSEQUENCES" HELD ON INITIATIVE OF DPA

Noyan Tapan

Nov 25, 2008

YEREVAN, NOVEMBER 25, NOYAN TAPAN. On the initiative of the Democratic
Party of Armenia (DPA), a round table on the subject "The Global
Economic Crisis and Its Consequences" with the participation of
economists took place on November 25.

The chairman of DPA Aram Sargsyan said that the socioeconomic
policy conducted in Armenia since 1990 has been a wrong one as
the priority directions of the country’s industry and agriculture
were not specified. In his words, the privatization process was
implemented hastily in favor of sponsored individuals and to the
detriment of the people. The DPA chairman expressed an opinion that
if the market relations in Armenia had formed in accordance with the
social-democratic formula: "the market as much as possible, and the
state regulation as much as necessary", many negative consequences
such as the unprecedented polarization of the society, the incredible
corruption and the shadow economy of a dangerous size would have been
avoided on this road".

In the opinion of A. Sargsyan, it is necessary to analyze the passed
way seriously and deeply in order to get out of the current situation
and not to repeat the mistakes of the past. Besides, he underlined the
necessity of holding dicussions on the current state of the economy
and preparing the society for all possible changes.

In the words of Doctor of Economics, Professor Ashot Markosian,
"the global crisis has reached a deep pit, whereas this disease of
the global economy has not been diagnosed yet". Accoridng to him,
the financial crisis is turning into an economic one, affecting almost
all the spheres of life. A. Markosian did not subscribe to the opinion
that the crisis will not have an impact on the Armenian economy.