PRIME MINISTER TIGRAN SARGSYAN PRESENTED THE COUNTRY’S FINANCIAL, ECONOMIC SITUATION IN THE NA

ARMENPRESS
Nov 30, 2009

YEREVAN, OCTOBER 30, ARMENPRESS: The discussion on "RA 2010 State
Budget" draft kicked off today in the standing committees of the
Armenian National Assembly. Armenian Prime Minister Tigran Sargsyan
before passing to chief discussions, presented the country’s financial,
economic situation, the anti-crisis programs of the government and
its results, the budget implementation of this year, expenditures.

According to him, the basis of this year’s activity where anti-crisis
events having the main target the ensuring of macroeconomic and
financial stability which were presented to the NA in November of
the past year.

Steps have been undertaken for the development of important
infrastructures in respect of ensuring activity of regional importance.

The prime minister said that in conditions of crisis the most justified
investments are considered the sums invested in the development of
infrastructures.

>From Armenian infrastructures the prime minister singled out the
construction of the new energy unit. With the results of the tender,
"Warley parsons" company has won and must head the construction works
for the organization of which about 400,000 USD have been spent. The
NA has recently approved the law on construction of new energy unit.

Tigran Sargsyan said this year road of 365 km total length will be
exploited. With their volume these works exceed the volume of the
road construction of the past year: in 2008 163 km of roads were
reconstructed. About 14 billion AMD work have been carried out in
the water supply system, about 300 km of inner network has been
reconstructed.

The projecting works of North-South transport corridor are in
process. The Asian Development Bank has already approved the decision
of providing 500 million USD to Armenia with that aim, 60 million
out of which has been provided.

Concrete steps have been undertaken toward the construction of
Armenia-Iran railway. T. Sargsyan said that a responsible company for
implementing control over the construction works has been created,
budget provisions were made so that the company start working.

During the running year All-Armenian Bank has been established which
will start working from the next year and in near future its head
must be elected. The business program of the bank has already been
developed.

The prime minister also said that in spite of the situation created
in the country as a result of the global crisis and the 18.5 economic
decline, in the "Doing Business" rating Armenia has improved its
position with seven points being ranked the 43d from the past 50th
place.