15TH SITTING OF THE UNION OF MANUFACTURERS AND BUSINESSMEN OF ARMENIA TOOK PLACE IN YEREVAN
Shakeh Avoyan

"Radiolur"
13.05.2009 18:25

The 5th forum of the Union of Manufacturers and Businessmen of Armenia
took place in Yerevan today. President Serzh Sargsyan attended the
meeting.

President Sargsyan noted in his speech that, unfortunately, the
predictions about the bad scenario of economic development have mostly
come true.

However, according to the President, we have managed to resists the
evil of the crisis to some extent. "There were no banking failures,
the social payments and salaries were not reduced, the giants of the
field of mining production either did not stop activity or suspended
the activity for a short while, the predictions about the collapse
of the currency market and the universal panic did not come true,
either. Thanks to the deflation of the national currency we managed to
avoid abrupt rise of prices of consumption goods," the President said.

Serzh Sargsyan thanked the citizens who managed to demonstrate
a reasonable behavior without giving way to panic. He thanked the
businessmen, who continue searching for new ideas and initiatives. He
expressed gratitude to the government for taking daring decisions
under the most unfavorable circumstances. The President hailed the
National Assembly for large-scale cooperation in consolidating the
economic solutions. He thanked also the political par ties, the public
forces and media for their support and more conscious approaches.

"Although our country is living hard times, although the GDP is
falling, we will continue along the path of reforms," the president
stated, calling on businessmen to support he Government on the issue.