Tigran Davtyan: We have reinforced economic system

YEREVAN, SEPTEMBER 20, ARMENPRESS:

During the 20 years of independence the economy of Armenia passed through many trials. Armenpress news agency spoke with the Economy Minister Tigran Davtyan about the passed way and expectations.

- Mr Davtyan, how will you assess the path Armenia’s economy has passed? What economy do we have after 20 years of independence?

- Today we have a reinforced economic system. During the past 20 years, in spite of many difficulties, trials we succeeded forming the economy that will serve as a basis for the development of our state. We have faced crisis and speeded-up economic growth, but we are quite experienced now. We already know what to do in what case. Our business, economy and state system are feeling more confident than years ago. Of course we had some difficulties, flaws, but in general, the economic policy, strategy, approaches that were brought into life were right. I think we can be proud of many of our economic achievements.

- What prerequisites does Armenia’s economy have for developing?

- The past years were quite complicated for us. I think we have passed the most difficult period – the period of reinforcement. It means that the coming years will be the period of new economic achievements. We have all the prerequisites for it – systematic, structural, in respect of formation of business.

- Which are the grounds and what touchable results are being registered?

- The investment programs we are carrying out now and which have received serious process give their results. There is not a month when we do not have new enterprise or new manufacturing units. It is important process. Soon our industry sphere will develop and I must say that it is already visible. Armenia has a multi-branch economy, I think we will not only preserve it but will develop as well.

- Mr minister, it is being spoken about the second crisis. If nevertheless, the second crisis occurs, how much is Armenia ready to combat it?

- We are thoroughly following all developments in the world economy. Having the experience of the past crisis, we know quite clearly what actions must be undertaken. Of course the risks exist connected with the developments in the global market. We have become part of world economy and immediately feel the impact of developments taking place there. We are actively working with the World Bank and International Monetary Fund. If the risks of the second crisis increase, we will do everything possible to be utmost ready. We hope the world economy will be able to avoid new serious crisis and the steps taken by the international community will give results.