GOVERNMENT’S ANTI-CRISIS PROGRAM SHOULD BE IMPLEMENTED AT FAST PACES

PanARMENIAN.Net
11.09.2009 13:04 GMT+04:00

/PanARMENIAN.Net/ Government’s anti-crisis program should be
implemented at fast paces since its principles and clauses inspire
positive hopes, said Arsen Kazaryan, Head of RA Union of Industrialists
and Entrepreneurs. According to him, Government’s operating headquarter
approved several programs in February-March 2009 but their funding
begins just now.

Kazaryan also noted that a couple of months ago mortgage market
participants, particularly Elite Group company, were issued state
guarantee which increased construction volumes in July-August. "Over
the past 7-8 years, construction sphere ensured 30-40% of our economic
growth. But currently, economic downfall is on the level of 15-16%. No
wonder if we register certain negative growth by the end of 2009,"
he added.

Speaker stressed the importance of state-business-private
sector cooperation which will help overcome the impact of global
financial-economic recession. "As I see, my partners never lose their
spirits," he added.

Armenia too, is experiencing the hardships of world crisis, although
not in the same volumes as big economies, entrepreneur finds. "I hope
we’ll register certain stabilization by 2010, summing up the current
year with minimal losses," he said.