Remittances to Armenia will decrease because of economic
crisis, Armenian deputy minister of finance admits
18-12-2008 15:30:00 | Armenia | Economy
YEREVAN, DECEMBER 18, NOYAN TAPAN. The negative
consequences of the global economic crisis will affect the
socioeconimic state of Armenia first of all due to a growth in
raw material prices, the RA deputy minister of finance Vardan
Aramian stated during an international TV bridge organized at
Novosti-Armenia information center on December 18. He added that
another consequence of the crisis will be a decline in prices of
goods and services in the world, as a result of which Armenia's
exports will suffer. And finally, according to V. Aramian, the
crisis will be dangerous for Armenian people because remittances
from abroad will considerably decrease.
In the opinion of Ukrainian economist Oleg Ustenko, the
global economic crisis will cause positive changes as well, the
most essential of which is that the economic imbalance among CIS
member states will decline. The negative consequences of the
crisis in these counrtries will especially affect the banking
systems. In the words of O. Ustenko, the state should first of
all protect tax payers, vulnerable groups and depositaries.
The deputy minister of economy of Moldova Yuri Muntian said
that the policy of liberalization of economy adopted by the
government will play a great role in withstanding the economic
crisis in their country. The head of the Social Policy Center of
the Institute of Economics of the Russian Academy of Sciences
Yevgeni Gontmakher announced that with the aim of reducing the
consequences of the economic crisis in Russia, a decision was
made not to take back the apartments from those who have
received mortgage loans, until they pay for their apartments.
However, according to him, a considerable growth of unemployment
is inevitable in any case.