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Crisis | 09.06.10 | 12:38

Lessons of Crisis: PM Sargsyan says diversification to become priority in government’s economic policies

By Suren Musayelyan
ArmeniaNow Deputy Editor
The need for a more diversified economy is a major lesson that Armenia must draw from the period of crisis that it went through last year, according to Prime Minister Tigran Sargsyan.

“It was because of the low level of economic diversification that we saw a steeper economic decline than other countries, which possess a higher level of diversification,” said Sargsyan on Tuesday, reporting on the 2009 state budget fulfillment to Armenian lawmakers.

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3
sos (unverified)
10.06.2010 02:07
MANUFACTURING AND EXPORTING!! If you do not modernize and expand these two areas, then we will have a country with loads of Foreign debt and deficits to follow...Simple Economics.
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Random Armenian (unverified)
09.06.2010 19:13
There is much to be learned from Turkey of all places. They have really put the emphasis on growing the economy over the past 10 years and they have made huge gains. Diversification is important for a country such as Armenia where dependency for outside products is a much greater danger. Looking at China, a healthy manufacturing industry is important to have. Disclamer: I'm not an economist, so ummm, take what I said any way you want :)
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Anonymous (unverified)
09.06.2010 08:48
A very good point made by the prime minister. I admire his vision and his efforts and think Tigran Sargsyan is one of the best PMs Armenia has ever had. I'm sure With his intelligence and abilities and the president's guidance the country will quickly recover and start growing economically and politically. Good job, Mr Premier.
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