Expert: Armenia can be among those countries taking advantage of global
crisis

YEREVAN, May 31. /ARKA/. Armenia can be among those countries taking
advantage of the global crisis, just like some East-European countries,
Tatul Manaseryan, adviser to Armenian National Assembly Speaker, said
at a press conference on Friday.

As an example, the lawmaker singled out Poland, who will end the year
with economic growth after receiving $3 billion from EU member
countries.

`Armenia is not Poland, but capable enough to bar the economy from
declining’, Manaseryan said.

He told journalists that Armenia has everything for completing the year
with close-to-zero decline, while the entire word will face
considerable decline, even two-digit decline in some countries.
`The crisis is increasingly intensifying and has not reached the stage,
after which growth begins’, the legislator said.

In his opinion, Armenia’s insufficient integration in the world economy
is advantageous to the country amid the crisis raging all over the
globe.

`The crisis has stricken hard at all countries, but those having
integrated in the world economy not so much can put things right thanks
to own capacity and resources.’

Manaseryan thinks Armenia as greater room for solving its problems than
some other countries facing similar difficulties.
At the same time, he is convinced that not every effort is being made
0Afor improving the situation.

Manaseryan thinks the Government should inject cash in those economic
sectors able to ensure welfare for Armenia.
He singled out information technologies and alternative energy among
these sectors.

The expert also thinks that small and mid-scale businesses should be
supported amid the crisis, since they will recover faster than large
business after the crisis and will be able to ensure economic growth.

Therefore Manaseryan proposes to ease tax burden for small and medium
companies, particularly in border areas, to create free economic zones
and lower customs duties for import of new equipment to make it
possible to modernize Armenian economy.

Manaseryan thinks the global crisis is inevitable, since the economy’s
development is cyclic, and long cycle of the world economy’s growth is
followed by recession.
He said some countries aggravated the crisis by attempts to delay it
artificially.

National Statistical Service of Armenia says 9.7% economic decline was
recorded in the country in Jan-Apr 2009, compared with the same period
of the previous year.

According to the statistical report, GDP amounted to AMD 638939.3
million and GDP index-deflator was 101.8% in Jan-Apr 2009, compared
with the same period a year earlier.-0–