Armenia to face gravest times of crisis in mid, end 2010

The professor of economy, councilor to the National Assembly Speaker on economic affairs Tatul Manaseryan referred to the measures taken in Armenia to mitigate the economic crisis impact, at a press conference today.

«Herewith I signify the tax package submitted to the National Assembly where bilateral active discussions were under way,» Tatul Manaseryan said. He underscored the package aims at making the taxation field simple and beneficial for the development of businesses. He expressed hope that the tax package will be worked out and will be returned to the National Assembly.

According to T. Manaseryan, there are various forecasts over the financial-economic crisis. He thinks, Armenia, as part of the world economy, can, nevertheless, take an individual path for economic recovery.

T. Manaseryan does not exclude that real estate prices will hold on slashing in the West, though, «in the paradoxal conditions in Armenia they may even boost.» As he said, price slash creates favorable conditions for consumers, though, the purchasing capacity declines and higher rate of unemployment is viewed. By the time there are no new workplaces and the unemployment rate is higher and higher, the crisis will continue.

Armenia will be facing gravest times of the crisis in mid or end 2010, the economic councilor said.