Wednesday, 19 October 2011
EurAsEC Interstate Council Holds 31st Sitting
On the second day of his visit to Saint Petersburg, Tigran Sargsyan took part in the heads of government-attended 31st sitting of EurAsEC Interstate Council. After the private talks of the heads of government, the delegation met in an expanded session.
Describing economic developments in Armenia, Tigran Sargsyan said: “If the 2009 global financial and economic crisis hit us in construction with a 43% downfall in that sector, now we have to withstand the second wave of the crisis due in 2012. We should understand the way it may affect our economies. Our consultations held with the World Bank, the IMF and other international organizations have failed to answer the question at issue. We keep wondering whether the planned 4% growth will be feasible next year. Firsts of all, it depends on Thursday elevel of investor expectations and inbound remittances.”
The Prime Minister said 4.2% economic growth projected in Armenia for 2012. In the meantime, the government is keen on ensuring 4.6% economic growth this year with inflation kept down at 5%.
“We make a point of achieving full compliance with the targets set for budget exercise in 2012 since we a 0.6% rise is scheduled in terms of revenue collection. The Republic of Armenia is interested in the furtherance of integration processes within the CIS and EurAsEC frameworks. The new platforms of cooperation may promote growth in our countries to help us meet the risks coming from the global economy. We are getting ready to withstand the new wave of recession by reducing the budget deficit, the rate of inflation and so on. At the same time, we should think of such new tools as have not yet been applied before,” the Prime Minister said thanking the Russian Federation and RF Premier Vladimir Putin in particular for high-level welcome, fruitful talks and the agreements reached during them.
The heads of government discussed over a dozen items, including the implementation of joint anti-crisis programs. They tried to make a comparative analysis of member-States’ economic development etc.
Note that the Republic of Armenia has the status of observer at the proceedings of the EurAsEC Interstate Council.
