ARMENIA CAN OVERCOME ECONOMIC CRISIS ON ITS OWN, TATUL MANASERIAN BELIEVES

Noyan Tapan
June 16, 2009

YEREVAN, JUNE 16, NOYAN TAPAN. The Armenian economy can and must
develop by its own patterns and overcome the financial and economic
crisis on its own, the advisor to the RA National Assembly speaker,
economist Tatul Manaserian stated at the June 16 press conference. By
his forecast, the worst period of the crisis will be in mid or late
2010, for which Armenia must be prepared.

T. Manaserian gave an affirmative answer to the question about whether
Armenia’s economic system is able to develop without the help of the
outside world – he said that everything depends on those who work
out and implement the economic programs.

In his words, in Armenia it is necessary to form a team of experts who
will conceive the economic processes in our country and the world and
will realize what burder they will have to shoulder. "At the present
time the government is very far from the one I imagine," he said.

T. Manasarian also spoke about the tax package discussed at the
National Assembly a few days ago. According to him, those engaged in
big business currently do not submit the necessary documents to the
respective state bodies, which contributes to the growth of shadow
economy so a fight should be waged against it. "Any bill should have
some substantiation. The substantiation presented by the government
regarding the tax package is of abstract nature," T. Manaserian said.