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Report: Necessary steps taken by Armenian economy ministry ward off recession

20.01.2010 20:27

Report: Necessary steps taken by Armenian economy ministry ward off recession

YEREVAN, January 20. /ARKA/. Armenian Economy Ministry took necessary measures to mitigate and neutralize impacts of the global recession on the country and to prevent social tension here, the ministry says in its report submitted to the government on Wednesday.

In particular, the ministry mobilized donor organizations’ resources - $700 million was attracted from the World Bank, $500 million was received from the International Monetary Fund and $60-million package of credit support formed.

Besides, the government laid ground for cooperation with Asian Development Bank.

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