ACCORDING TO VARDAN AIVAZIAN, ABSENCE OF SECURITIES MARKET IS ARMENIA’S ADVANTAGE IN CONDITIONS OF FINANCIAL AND ECONOMIC CRISIS

Noyan Tapan

Feb 3, 2009

YEREVAN, FEBRUARY 3, NOYAN TAPAN. The coordinated actions of various
branches of power in the conditions of the global financial and
economic crisis are a regularity, especially in the sphere of economic
control. The chairman of the National Assembly Standing Committee
on Economic Issues Vardan Aivazian expressed this opinion during
the February 3 press conference. According to him, Armenia has both
advantages and disadvantages in terms of overcoming the crisis. In
his opinion, the main advantage is in the absence of the market of
securities: these markets are the first to crash around the world. In
his words, the first damage done to Armenia by the crisis will make
itself felt in the sphere of commodity turnover.

V. Aivazian said the anticrisis commission adjunct to the government
considers light and chemical industries, agriculture, construction
and the sector of services as priority ones. He underlined that the
commission tries its best to prevent a decline of growth rates in
the indicated sectors.

V. Aivazian stated that Armenia expects Russia to provide a credit
of 200 thousand up to a billion dollars, but he did not say when this
credit will be received.