Ministry of Finance: Economy of Armenia undiversified

22.02.2010 14:56
Ministry of Finance: Economy of Armenia undiversified

YEREVAN, February 22. / ARKA /. Armenia's economy is not diversified enough," the Minister of Finance Tigran Davtyan said.

"This is a comparative characteristic, as Armenia has some degree of diversification that has helped us last year to compensate for the threats that might been present," the minister said on Saturday during a speech at the Seventh International Economic Forum Bridge-2010.

According to Davtyan, some sectors of the economy of Armenia, such as industry, agriculture, services and retail trade, have developed more evenly, and the level of decline in them was not so great.

"We realized that there is no hope for the development of one or two branches of the economy that occurred in recent years. It is not only about the construction, at certain times we have rather quickly developed the scope of diamond-cutting, mining, metallurgy, and information technology," he explained. –0-

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