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PRESIDENT SARGSYAN SAYS EFFORTS NEXT YEAR SHOULD BE DIRECTED AT ENSURING FULL RECOVERY AND DIVERSIFICATION OF ECONOMY
/ARKA/
DECEMBER 24, 2010
YEREVAN
YEREVAN, December 24, /ARKA/. Armenian president Serzh Sargsyan said
today all efforts next year should be directed at ensuring a full
recovery of the economy and achieving its further diversification. He
made the remarks during a meeting with representatives of the country's
business community to convey his New Year congratulations.
'The outgoing year was a year of purposeful work, aimed at overcoming
the aftereffects of the global financial and economic crisis. I mean
not only the government but also the combined efforts of our business
people. It is inspiring that in very dire conditions we managed to
stabilize the situation and ensure a certain growth,' he said.
According to the president, Armenia overcame the first wave of the
global crisis without major shocks.
"The second wave, however, has inflicted a heavier blow to our
economy. Virtually all sectors of our economy declined, financial
flows and investments reduced drastically and export markets ceased
to feed our economy. In those hard days when the threat of a dramatic
fall in living standards forced thousands of Europeans to the streets,
the Armenian society, our business community and all branches of power
joined efforts to preserve the social situation at before-the-crisis
level,' he stressed.
The president noted also that the crisis made all revalue old and
reliable partners and look also for new ones and fight on a daily
basis for the salvage of domestic businesses.
"We had to use all available means to avoid social spending cuts and
withstand an economic winter,' he said.
"We shall overcome the consequences of the crisis and emerge from it
stronger and armed with understanding that our economy must undergo
serious changes. Leaving behind the destructive wave of the crisis we
can say with certainty that we have succeeded in the last 19 years
in shaping a substantial flexibility reserve and building a stable
financial and economic system,' he said.
From: A. Papazian
/ARKA/
DECEMBER 24, 2010
YEREVAN
YEREVAN, December 24, /ARKA/. Armenian president Serzh Sargsyan said
today all efforts next year should be directed at ensuring a full
recovery of the economy and achieving its further diversification. He
made the remarks during a meeting with representatives of the country's
business community to convey his New Year congratulations.
'The outgoing year was a year of purposeful work, aimed at overcoming
the aftereffects of the global financial and economic crisis. I mean
not only the government but also the combined efforts of our business
people. It is inspiring that in very dire conditions we managed to
stabilize the situation and ensure a certain growth,' he said.
According to the president, Armenia overcame the first wave of the
global crisis without major shocks.
"The second wave, however, has inflicted a heavier blow to our
economy. Virtually all sectors of our economy declined, financial
flows and investments reduced drastically and export markets ceased
to feed our economy. In those hard days when the threat of a dramatic
fall in living standards forced thousands of Europeans to the streets,
the Armenian society, our business community and all branches of power
joined efforts to preserve the social situation at before-the-crisis
level,' he stressed.
The president noted also that the crisis made all revalue old and
reliable partners and look also for new ones and fight on a daily
basis for the salvage of domestic businesses.
"We had to use all available means to avoid social spending cuts and
withstand an economic winter,' he said.
"We shall overcome the consequences of the crisis and emerge from it
stronger and armed with understanding that our economy must undergo
serious changes. Leaving behind the destructive wave of the crisis we
can say with certainty that we have succeeded in the last 19 years
in shaping a substantial flexibility reserve and building a stable
financial and economic system,' he said.
From: A. Papazian