RA PM: CRISIS FIRST OF ALL AFFECTS THE RICH

PanARMENIAN.Net
04.03.2009 22:36 GMT+04:00

/PanARMENIAN.Net/ The Armenian Government worked out a number of
medium -term programs to overcome the impact of financial crisis on
Armenian economy, RA Prime Minister Tigran Sargsyan stated in his
TV announcement.

For this purpose the government does its best to attract stabilization
credits. As of today, the IMF is ready to subsidize $540 million,
with $240 million to be granted immediately and $525 million will
be credited by the WB, Sargsyan noted, adding that the Russian Prime
Minister spoke about providing Armenia with $500 credit.

"Negotiations are also being conducted with Asian Bank and European
Bank for Reconstruction and Development," he stated. Also, the county’s
expenditure policy will play a key role in the overcoming of crisis
consequences by boosting economy and infrastructure and providing
the country’s vitality

"The government will do its utmost to shift the weigh on the shoulders
of major entrepreneurs. First of all, the crisis should affect the
rich," Sargsyan emphasized.