Armenia’s prime minister spoke of the risks that the country faces in view of the continuing global economic crisis as he visited parliament for a state budget debate yesterday. Addressing lawmakers from the parliament tribune Tigran Sargsyan said, however, Armenia is ready to face up to the challenge and make sure the crisis has a minimal impact on the country’s developing economy. Among the risks for the Armenian economy created by a continuing global market decline the premier, in particular, mentioned dwindling and delayed private investments, shrinking private remittances, a temporary halt in the mining industry pending a surge in international prices for minerals, some delayed investment projects and reduced investment activity in the construction sector, which has so far been a key driving force behind the country’s robust economic growth. Up until yesterday Sargsyan was saying that there will be no hazard for the Armenian economy.
