Armenian Premier Says New Wave Of Crisis Possible


Oct 1, 2011

YEREVAN, October 1. / ARKA /. Speaking at the third economic forum
Bridge Artsakh 2011 that opened October 1 in Nagorno-Karabakh capital
Stepanakert Armenian prime minister Tigran Sarkisian said a new wave of
crisis is possible, according to the press service of the government.

“Consequently, in 2012, the government, in line with global economic
processes has to make bold steps to ensure stability and continued
economic growth”, Sarkisian said.

The agenda of the forum that discussed the advanced economy as the
basis of independence of the country, highlighted ways about how to
make Armenia and Nagorno-Karabakh attractive both for Armenian and
foreign entrepreneurs.

Last Wednesday the Armenian ministry of finance sent a draft budget for
2012 to the Cabinet’s consideration. It calls for 910 billion drams
in revenues and 1.042.5 trillion drams in spending. The projected
deficit is 132.5 billion dramsÑ~N The amount of revenue is projected
to increase by 6.8% from this year’s budget (852.4 billion drams). The
spending is expected to grow by 41.5 billion drams

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