YEREVAN, OCTOBER 23, NOYAN TAPAN. The international financial crisis has not yet affected the Armenian economy but there will be some impact, member of the parliamentary "Prosperous Armenia Party" (PAP) faction Vardan Bostanjian said at the October 23 press conference. In his words, the impact of the crisis on the country's economy will not be considerable because insurance, capital and venture fund markets has not formed yet in Armenia. In his opinion, there will be a decline in the amount of foreign remittances that amount to about 3 billion dollars a year, as a result of which less money will enter the consumer market which in its turn will affect the activity of Armenia's economy. The deputy said that one of the ways of overcoming the financial crisis is that in conducting its economic policy, the state should become a partner of economic entities, whereas now the state policy impedes domestic producers.

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