KING BANAIAN: ARMENIA WILL RECOVER FROM CRISIS PRETTY SOON
/PanARMENIAN.Net/
09.07.2009 13:18 GMT+04:00
/PanARMENIAN.Net/ Armenia will recover from crisis pretty soon,
according to King Banaian, professor and chairman of the Economics
Department of St. Cloud State University, member of International
Policy Research Group (AIPRG). Comparing the situation in Armenia with
recession in Asian countries, prof. Banaian said Armenia’s economy
suffered less losses that Indonesia’s, for example. "Indonesia was too
late with devaluation of the national currency," he said. Dwelling on
the ways Armenia can combat the crisis, prof. Banaian said, "I suppose,
Armenia should develop trade relations with other countries. It’s
also essential to assist families, which suffered from reduction
of transfers."