PanARMENIAN.Net
Armenia needs development of futures market and retaining of budget
expenditures
09.03.2009 16:20 GMT+04:00
/PanARMENIAN.Net/ `Development of futures market is very important to
CBA currency and financial policy,’ ARF Dashnaktsutyun representative
Artsvik Minasyan told a news conference on Monday. According to
Minasyan, the absence of futures market caused CBA to undertake
drastic steps. `The presence of liability market could promote
positive expectations in society. People would know when and what
currency they should purchase.’
Despite the financial crisis, Armenia’s situation is not that
difficult, so we don’t need state budget sequestration,(
i.e. expenditures decrease). RA Government should increase social
programs’ expenditures and apartment construction to strengthen the
country’s economy. `At present we mustn’t revise the budget, as the
rate of tax proceeds is not as bad as it was described to be’ Artsvik
Minasyan stated.