Armenian ex-foreign minister thinks the authorities should make bold
steps to overcome economic crisis

2009-03-09 16:16:00

ArmInfo. Armenian ex-foreign minister, Vardan Oskanyan, thinks the
authorities should make bold steps to overcome the economic crisis.

‘Naturally, Armenian and other states’ economy, including Georgia,
which is not connected with Russian economy at all, is in the hard
situation at present. There are numerous reasons for that. I think that
the main challenge for us is stop falling of the economic growth. For
this reason I think that today Armenian authorities have to make quite
bold steps’, – Oskanyan said in an on-line interview with ‘Region’
Centre. He also added that first, though with delay, the first such
step has been already made – devaluation of the national currency.
Secondly, Oskanyan thinks the authorities have to revise the budget and
the fiscal policy in such a way which, on one hand, will reduce the tax
obligations of the small and medium-sized business and, on the other
hand, the funds received from abroad will be used so purposefully to
stimulate economy. ‘And finally, monopoly should be abolished and
competitiveness created’, – Oskanyan concluded.