PM: Armenia must be ready for different developments in crisis

PM: Armenia must be ready for different developments in crisis

YEREVAN, December 26. / ARKA /. Armenia must be ready for any scenario
that can take place in crisis, Prime Minister Tigran Sargsyan said at
the final press conference on Friday.

According to him, Armenia is working closely with the consulting firm
McKinsey & Company, an authoritative world organization, carrying out
global studies, and once a quarter he gets information on projections
of 1400 of the best experts on the crisis.

He explained that in accordance with the estimates of these
specialists, there are four scenarios for the situation.

Sargsyan said that the first scenario is that we have reached the
bottom and the reconstruction phase has already started, the second:
the bottom has been reached, there is some economic activity, but will
be the second wave, the third: the bottom has been reached, but a
longer period is expected to recover, and the fourth scenario is a
very slow recovery of world economy.

Sargsyan noted that during the first quarter of 2009, 32-34% of
specialists inclined to believe that the situation will develop in the
first scenario.

"Estimates of the last quarter showed that the number of supporters of
the second scenario has increased, reaching about 24%, but there is
still the belief that we are nevertheless included in the recovery
period," he explained.

In this regard, the Prime Minister said that the crisis is a
phenomenon that is impossible to predict, because it excludes the
expression patterns, and there is not a methodology that would enable
the accurate assessment of its depth and the scope of its
distribution, as well as a way out.

"It is impossible to predict as to when the crisis is to occur and
when the second wave take place," Sargsyan summarized. A.B. – 0 —