FINANCIAL CRISIS REVEALED RA ECONOMY’S WEAKNESSES

/PanARMENIAN.Net/
16.09.2009 14:34 GMT+04:00

/PanARMENIAN.Net/ The results of the report on Armenia’s
competitiveness showed that the financial crisis revealed weaknesses
of Armenian economy, Prime Minister Tigran Sargsyan said.

"The number of private transfers has decreased sharply. The
construction industry suffered a slump. This means that the
diversification level of Armenian economy is very low," he said.

According to the Prime Minister, the report on the republic’s
competitiveness is of great value, since it prompts ways to overcome
the consequences of the crisis.

"The government is constantly working to resolve the issue but
science-production formula has not been found yet," Mr. Sargsyan said