IF WORLD CRISIS CONTINUES, ARMENIA WILL SUFFER ECONOMIC DISASTER: MP

Today.Az
14.html
June 3 2009
Azerbaijan

"On the whole, decrease in investments volume is observed throughout
the world and is due to the world financial crisis", said member of
the standing committee of Milli Medjlis for economic policy, deputy
Vahid Ahmedov, commenting on the reduction of volumes of investments
from Russia to Armenia.

He said this is natural that crisis was recorded both in Armenia and
in other countries.

"But the crisis is deeper in Armenia as compared to other countries,
for production is almost stopped in Armenia, while there are
almost no investments to the country. Therefore, Armenia is in a
hard state. Moreover, Armenia does not take part in any regional
project. Therefore, its state is difficult", said the deputy.

"At the same time, we can not say that the economic state in Russia is
normal. It was also affected by the crisis, which reduced the volume
of its investments. It is interesting that as compared to Russia and
Armenia, the volume of investments to Azerbaijan has not reduced and
even grown", noted Ahmedov.

"If the financial crisis is recorded in the world both in 2009 and
2010, Armenia will suffer economic disaster. Armenian economy has
many problems, for example, delay in wages and others. Therefore,
the economic state in Armenia is grave", said he.

"Why does this crisis affect Azerbaijan not so much? Because we
participate in most global projects. Unless the Karabakh conflict
is settled, Armenia will have economic problems and its economic
state will be worsening with each passing day. The only way out of
this crisis is the soonest resolution of the Karabakh conflict",
concluded Ahmedov.

From: Emil Lazarian | Ararat NewsPress