SMALL-TO-MEDIUM BUSINESS SHOULD BE DEVELOPED TO RESIST ECONOMIC CRISIS, SAYS ABEL AGHANBEGYAN

Noyan Tapan
May 25, 2009

Yerevan, Noyan Tapan, May 25. On the initiative of Policy Forum
Armenia, an economic forum started at the American University
of Armenia on May 25 with a goal to discuss the impact of the
world economic and financial crisis and find ways to mitigate its
consequences.

The Economic Forum brought together representatives of international
organizations, major policymakers from regional economic powerhouses,
Armenia’s key economic policymakers since independence. Titled
"Armenia: Weathering the Global Storm", the economic forum served as
a major venue for discussing the global and Armenia-specific trends
and culminated in a panel session where Armenia’s successive Prime
Ministers discussed policy options for the future.

As Abel Aghanbegyan said during the television bridge at the opening of
the conference, it is not clear when the global financial crisis ends.

Apparently, many will be able to get stronger while overcoming
the crisis.

According to A. Aghanbegyan, in order to withstand the crisis CIS
countries should develop small and medium business, which will enable
to create new jobs and revive the economy. "We will not come out
of this recession soon," stressed the academician adding that it
is important to remain optimistic and at the same time be ready to
the worst.