WB: Armenian government should be careful with developing strategies overcoming crisis

26.10.2009 15:14
WB: Armenian government should be careful with developing strategies overcoming crisis

YEREVAN, October 19. / ARKA /. The Armenian government should be more careful in designing a strategy for taking the country out of the crisis, World Bank Managing Director Ngozi Okonjo-Iweala said in Yerevan.

"The Government of Armenia must be careful not to rush to develop an exit strategy to take the country out of the crisis. It should first monitor the trends in the global economy, since crisis is still occurring in some countries and unemployment is rising, for example, in the United States this figure has already exceeded 10%," Okonjo-Iweala said at a press conference on Sunday.

According to her, the oligopolistic structure is still present in the Armenian economy, and that must be changed.

However, she stressed that the change in oligopolistic structure should not be confused with the anti-crisis measures.

According to Okonjo-Iweala, the Armenian government's anti-crisis program provides for the development of fiscal arrangements, which is an appropriate and reasonable step.

In reference to the implementation of economic reforms in Armenia, the WB Managing Director noted that the government is ready to implement them.

"The Prime Minister of Armenia is aware that if the economic challenges are not addressed, it will become an obstacle to the development of economy," Okonjo-Iweala said. –0--


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