TATUL MANASERIAN: ARMENIAN GOVERNMENT’S STEPS TO OVERCOME GLOBAL ECONOMIC CRISIS ARE NOT SUFFICIENT

Noyan Tapan

F eb 26, 2009

YEREVAN, FEBRUARY 26, NOYAN TAPAN. Although the Armenian government
has taken some steps to overcome the global economic crisis, they
are not sufficient, economist Tatul Manaserian expressed an opinion
at the February 26 press conference.

According to him, in addition to general programs, national programs
should be developed which will allow forming an efficient structure
of national economy in the country. T. Manaserian believes that it
is important to assess own resources in Armenia at this stage. In his
words, Armenia can get out of the crisis only by means of non-standard
approaches, otherwise even when the economic crisis is over in the
world, "we will remain in this situation for a long time".

In this respect the economist underlined the necessity to create
national models of economic development for each region of the
republic. For example, to develop tourism in Jermuk by using natural
resources there, to develop agriculture in some other region.

As regards the credits given to Armenia by the World Bank and Russia,
T. Manaserian said that it is necessary to create definite mechanisms
to spend these sums correctly. In his words, the conditions and goals
of the World Bank’s credit are clear, which cannot be said about
the stabilization credit of Russia. At the same time T. Manaserian
expressed a hope that these credits of over 1 billion dollars will
be efficiently spent.