PRIME MINISTER OF ARMENIA: PRIVATE INVESTMENTS IN REPUBLIC REDUCE UNDER CONDITIONS OF CRISIS EXPECTATIONS

ArmInfo
2009-02-23 12:28:00

ArmInfo. Reduction of private investments in the republic is observed
under the crisis expectations, Prime Minister of Armenia Tigran
Sarkisyan said on Saturday at the VI International Economic Forum
"Bridge 2009".

He said prime investors of Armenia have negative expectations which
caused delay of investments in the projects. He added that the problem
of delays on international payments, revealed by the local exporters,
is also observed.

Moreover, the terms of these delays are about 3 months that strikes
at the Armenian economy. "Toughening of the import rules is also
observed. Today, the partner-countries study the quality of goods
in more details. What they did not think about before becomes very
topical now. So, it is clear that this tool is used for protection
of the local producers", T. Sarkisyan said.

According to the prime minister, another minus of the developed
situation is reduction of export from Armenia in all the branches and,
first of all, in the mining industry in view of sharp drop in prices
in the world markets and the anti-crisis measures being implemented in
the partner-countries. As a result of this, certain potential has been
formed for growth of unemployment, moreover, private construction is
frozen, the state of the citizens worsens and the volume of private
transfers with high specific weight in the economy reduces. "The
criminal environment is worsening and corruption risks deepening
against this background", T. Sarkisyan emphasized.

From: Emil Lazarian | Ararat NewsPress