ACCORDING TO PRIME MINISTER, IN 2009 ARMENIAN GOVERNMENT CHOSE EFFICIENT AND CORRECT ANTI-CRISIS STRATEGY
NOYAN TAPAN
DECEMBER 25, 2009
YEREVAN
YEREVAN, DECEMBER 25, NOYAN TAPAN. "Some time is needed to summarize
the results of 2009 in order to form an in-depth opinion about what
challenges face us. However, it is already obvious that the year 2009
was full of difficulties and ordeals, and our young state demonstrated
that we can overcome such disasters with the least losses," Prime
Minister Tigran Sargsyan stated at the press conference held on
December 25 to finalize the results of this year.
In his words, the global financial and economic crisis revealed
the weaknesses of our economy. As for the anti-crisis strategy of
the government, the prime minister said that cooperation with the
World Bank, the International Monetary Fund and other international
organizations shows that the government has chosen an efficient and
correct strategy. In particular, expenditures grew by about 900 billion
drams which stimulated the development of some sectors of the economy.
In 2009 pensions increased by 16%, salaries in the state and private
sectors rose by 11%, and 3 thousand jobs were created. Large-scale
construction work was done in the earthquake zone, with 415 km of
rural and republican roads and 300 km of water pipes built. 500 km
of water pipes will be laid in 2010.
At least a 3.5% growth is expected in the information technology
sector in 2009. "We give priority to the IT sector in terms of economic
diversification, and it is extremely important that under conditions
of the crisis it stood the test and strengthened its position,"
T. Sargsyan underlined.
According to him, favorable conditions have been created for small and
medium business as well. As a result, 32 thousand entities enjoyed VAT
privileges by not paying taxes of 24 billion drams. Besides, excess
payments of 20 billion drams were refunded to the private sector,
which helped improve its financial position.
The prime minister said Armenia is the only state whose banking system
was prepared for the crisis: it has not rendered any assistance to
the commercial banks which have managed to overcome difficulties
on their own. In his words, deposits of citizens grew by over 30%
this year, which bears evidence of the population’s increased trust
in the banking system.