YEREVAN, December 5. /ARKA/. The world economy is slipping into double-dip recession now because of errors made before and formation of a new lifestyle, Armenian Prime Minister Tigran Sargsyan said at the seminar the ruling Republican Party of Armenia held on Sunday to discuss elaboration of an export-oriented industrial policy.

“A new world is being formed before our eyes,” he said. “New rules of differentiation of labor are among this new world’s characteristics. We are also witnessing formation of new economic centers.”
Sargsya said that Armenia should work out a policy able to cushion the country from shocks coming from the outside.

He said that the modern world is peculiar for the locomotive power of knowledge production that propels development of the world economy.

“If we want to build competitive, forward-looking economy, we should pay special attention to those areas based on knowledge,” he said. “It means that education establishments and universities’ activities will be very significant for formation of competitive economy.”

The premier said that favorable environment should be created for intellectuals to enable them to apply their talent and knowledge.

“This is also very important for formation of a new economic model,” he added. –0—