N. YERITSIAN SAYS THE WORLD ECONOMIC CRISIS IS NOT A REASON FOR SUSPENSION OF LONG-TERM PROJECTS

ARMENPRESS
JULY 8, 2009
YEREVAN

YEREVAN, JULY 8, ARMENPRESS: The world economic crisis is not a reason
for the suspension of long-ranging projects, said the Armenian Economy
Minister Nerses Yeritsian during today’s briefing with journalists
after the conference on "The impact of the world crisis on Armenia:
short-term and long-term prospects". According to him the state must
make use of the opportunities provided by the economic crisis and
ensure a development in its economy.

According to N. Yeritsian in the conditions of the economic crisis
steps should be undertaken in three main directions; first one is the
implementation of a flexible macroeconomic policy aimed at providing
of a normal diversified growth tempos. The second important direction
is the implementation of a right and efficient social policy.

"We must be sure that after the crisis our state’s social structure
is not shifted and the successes reached during the latest years in
the poverty reduction are preserved. These successes will be very
important in the post-crisis period," N. Yeritsian said.

The Minister noted that not all the predicted worse scenarios are to
be realized. The Government injects great resources into the economy
with which the fall is intended to be suspended. It will contribute
to ensuring of the growth tendencies for 2010.

The Minister once more assured that the social projects
will not be reduced and the anti-crisis expenditures
will notably increase. These are expenditures made on the
infrastructures which deal with the creation of new job places