MACROECONOMIC SITUATION STABLE, PREDICTABLE – FINANCE MINISTRY

ARKA
June 11, 2009

YEREVAN, June 11. /ARKA/. Minister of Finance of Armenia Tigran
Davtyan believes the macroeconomic situation in Armenia is stable
and predictable.

"We are talking about macroeconomic indicators of financial,
specifically banking system which survived the worst part of the
crisis and ensured its full safety," he said at his meeting with
Armenian businessmen in Moscow.

Davtyan stressed not a single bank suffered bankruptcy or had
significant problems.

"We have all the necessary conditions for economic activity, namely
macroeconomic and banking stability, a good business-climate and
clear legislation aimed at spurring investments and business,"
Davtyan stated.

Besides, according to the Minister, currently some 4,000 enterprises
operate in Armenia with foreign capital.

"It is a significant number for a small country and I do not know any
company that has left Armenia during these years and this means that
the companies are working with profits even amid crisis," he said.