YEREVAN, JULY 9, NOYAN TAPAN. With the aim of overcoming the consequences of the crisis, the Armenian government is taking measures aimed at preventing the economic decline and creating some bases for successful development, RA deputy minister of economy Mushegh Tumasian stated at the 3-day international conference "The Impact of the Global Economic Crisis on Armenia: The Shirt-Term and Long-Term Outlooks" on July 8. According to him, the anticrisis package includes investment programs to develop the economy, assistance to businesses and some spheres, management of big infrastructures and social risks, implementation of reforms aimed at economic growth. Besides, the reforms of tax and customs administartion and the identification of new tax revenues will continue. M. Tumasian said that the government is also carrying out investment programs, under which guarantees and subsidies are given to enterprises that meet the required standards. In his words, the activity of the Operative Staff set up within the framework of anticrisis measures is of great importance. In particular, about 300 programs were examined and 17 billion drams was allocated to 24 projects through the Operative Staff. The government is implemenating programs on support of businesses and some spheres. In particular, the Small and Medium Entrepreneurship Development National Center (SME DNC) has already made capital investments of 50 million drams and provided credits of 53 million drams. The government also plans to subsidize those enterprises which will initiate big infrastructure-related programs in 2009-2011. M. Tumasian underlined the necessity of taking such steps that will allow "receiving benefits from the crisis". "These steps should ensure development of new quality in Armenia in order to enhance the competitiveness and transform the economy," he said.

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