Armenia faces dilemma: to fight the crisis and concurrently carry out
reforms
26.09.2009 17:25 GMT+04:00

/PanARMENIAN.Net/
Armenia is at early stages of building effective market relations and
institutions, Tigran Jrbashyan , former co-director of the
Armenian-European Policy and Legal Advice Center(AEPLAC), director in
development of Ameriabank told a PanARMENIAN.Net reporter.

"Unfortunately, we missed the important period, 18 years passed since
Independence Day, reforms that we carried out were partial and did not
been fulfilled, resulting in inadequate institutions we have now," he
said.

The country is in a completely different economic situation, and faces
a dilemma: to fight the crisis or carry out concurrent reforms, which
is very difficult. According to Tigran Jrbashyan, it was necessary to
restructure the economy and management system in conditions when the
economy experienced a double-digit growth, "now it is much more
difficult to do this".

Armenia needs reforms, Tigran Jrbashyan said. Unfortunately, reforms
are made when it is bad," he said. However, according to him, "if we
approach the crisis as an opportunity for serious reforms, the
different stakeholders would reach a consensus on these reforms.

"I hope the next 15 years will be much more productive in respect to
reforms and the development of effective market relations and
institutions, than it was before. I am an optimist and I think that
Armenia will manage the situation, since our nation in times of crisis
is able to jump above the head,’ Tigran Jrbashyan said.