THE ARMENIAN CURRENCY WILL NOT DEPRECIATE AS MUCH AS TO CREATE PANIC
Anna Nazaryan

"Radiolur"
29.01.2009 18:03

It’s impossible not to be influenced by the economic crisis, as it
is impossible not to feel cold in winter.

Chairman of the National Assembly’s Standing Committee on
Financial-Credit and Budgeting Issues Gagik Minasyan and economist
Tatul Manaseryan agree that devaluation of the Armenian dram is
impossible in the second economic phase of the global crisis, although
Armenia managed to successfully overcome the first financial stage
of the crisis. They assure, however, that the Armenian currency will
not depreciate as much as to create panic.

Money becomes the scarcest good during the second phase of the crisis,
Gagik Minasyan clarifies. Therefore, the main way to overcome the
second phase is to ensure financial flows into economy. For this
very reason Armenia applies to international financial structures
and countries. The World Bank has already provided a $525 million
loan to Armenia.

The crisis will deepen in Armenia within the coming months, the
Deputy said.

However, our country can benefit from the global economic
crisis. Economist Tatul Manaseryan advises to acquire necessary
equipment from competitor countries and come out winner when the
crisis is over.

Gagik Minasyan added that we can draw benefits from prices of
natural gas.