Yesterday the World Bank gave an unpleasant surprise to those analysts and officials, who as in the past claim that the second wave of the global crisis will bypass Armenia. They also claim that in the event of the second wave of the crisis in Armenia the country will be able to withstand the challenges of the crisis. The WB has reduced its predictions on the economic growth and has specifically highlighted that the financial shakedowns will affect the developing countries even more than in 2008. By the way, the ones, who think that Armenia is a developing country and that the risks are for other countries, may read the following statement. “Countries with high incomes may suffer from the crisis and this will affect those countries, which produce mineral resources and highly depend on remittances.” The WB is sure that the crisis will hit those countries, where the GDP is comprised of remittances in the amount of 10% or more. Let us remember that in Armenia this index is over 11% and the main direction of export is mining. Shortly said, tough times are coming and no matter how hard our authorities try to make us believe that we will overcome the crisis we are still going to go through that. We should understand the authorities too because elections are ahead.
