FORECASTING END OF WORLD CRISIS POSSIBLE ONLY AT END OF 2009

ARKA
Feb 16, 2009

YEREVAN, February 16. /ARKA/. Armenia will start anti-crisis measures
in late February, Armenian Minister of Economy Nerses Yeritsyan told
journalists Saturday.

Among the anti-crisis programs is the WB-financed program on
reconstruction of rural roads and irrigation infrastructures that
will provide thousands of new jobs in villages, he said.

Another program – $50mln worth loan project of small business crediting
– remains to be approved by the World Bank.

"These are starting programs, and we hope for new programs to come up
within the next couple of months after their commence, particularly an
Asian Development Bank program, some budget projects that are to be
approved in a speeded-up mode," the Minister said adding that these
programs will influence the economy through cash supply.

Yeritsyan pointed out certain slowness development of the program
on search for new business ideas to establish potential and provide
targeted government assistance.

Selection of companies under the program is not a whim: only the
companies that can solve certain tasks are selected based on the
consultation by banks, expert agencies and investment companies,
Yeritsyan said.

From: Emil Lazarian | Ararat NewsPress