YEREVAN, DECEMBER 22, NOYAN TAPAN. The consequences of the economic crisis for Armenia will be very hard, and country's common citizens will feel the economic problems already in 1-1.5 months. Vahagn Khachatrian, the former Yerevan Mayor, stated at the December 21 Armenian National Congress conference. He also said thaat budget revenues from VAT will be also reduced. According to him, fund allocation under the Millennium Challenge program has been already suspended. He said that instead of real programs on small and medium-sized business assistance, the authorities act by administrative methods trying to get tax collection by all means, which leads to stopping of economic activity of many small and medium-sized enterprises. Besides, the authorities very much hope for foreign financial support and ask various countries and international organizations for sums of 50m, 200m, and even 1bn USD. In V. Khachatrian's opinion, for coming out of the formed situation the government should have presented the respective program in consideration of the domestic resources. Economy of resources and optimalization of expenditures should be that program's component. Analysing the financial-economic crisis world tendencies, the former Prime Minister and leader of the Freedom party Hrant Bagratian characterized the situation in world economy by the following phrase: "Economy has fallen a prey to bank terror." According to his estimation, this year capital export from Armenia will amount to nearly 1bn USD. Meanwhile transfers reduction from abroad await the country. He also mentioned the high dependence of Armenia's economy on non-ferrous metals export and energy carriers import. H. Bagratian also pointed out to the necessity to stop talks about closing the Armenian NPP until a new ANPP is built. "Armenia should remain a country with atomic energy," H. Bagratian said.

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