GROWTH OF ARMENIA’S ECONOMY MAY RESUME IN 2010: WB REGIONAL DIRECTOR FOR SOUTH CAUCASUS
ArmInfo
2009-07-07 14:53:00
ArmInfo. Growth of Armenia’s economy may resume in 2010, World Bank
Regional Director for the South Caucasus Asad Alam told journalists
today during a three-day Forum ‘Impact of the lobal Financial Crisis
on Armenia: Short- and Long- run Perspectives’ in Yerevan.
He positively assessed the government’s measures on counteracting
the crisis. ‘The most important factors here include, first of all,
the necessity of maintaining the financial sector stability and,
second, creation of new jobs. At last, it is necessary to make efforts
to attract new funds for the social programmes, as the crisis will
mostly affect the exposed population strata’, A. Alam said. He also
emphasized the necessity of activating the Armenian export, as entry
in the foreign markets for Armenia is one of the main opportunities
to overcome the crisis consequences. ‘Along with it, it is necessary
to refrain from a shortfall policy of home protectionism, as well
as develop long-term changes in the state economic policy in the
area of diversification, that will make the economy more flexible’,
he said. Moreover, he added, it would be more correct to control the
budget expenditures and not to increase them further without increase
of the tax levies.