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Countries With Small Economies Should Keep Their Main Macroeconomic

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  • Countries With Small Economies Should Keep Their Main Macroeconomic

    COUNTRIES WITH SMALL ECONOMIES SHOULD KEEP THEIR MAIN MACROECONOMIC INDICATORS ON A HIGH LEVEL - WB

    /ARKA/
    SEPTEMBER 25, 2009
    YEREVAN

    YEREVAN, September 26. /ARKA/. Countries with small economies should
    keep their main macroeconomic indicators on a high level, as during
    crisis starting conditions are important., said Asad Alam, WB Regional
    Director for South Caucasus in the report "Impact of global crisis
    on Armenia: short and long-term perspectives".

    The report says that it is necessary to develop a system of macro-risk
    regulation in Armenia as international fluctuations are natural in
    the integrated world. Alam said that it is very important to be an
    initiator in the development of anti-cyclic policy which will assist
    in the creation of workplaces in a short period of time and increase
    competitiveness in mid-term perspectives.

    He also said that rehabilitation after crisis will be slow and long
    for which it is necessary to make plans for mid-term period. "During
    crisis external specifications and mid-term consolidation of the
    budget is inevitable, that is why we should find "golden mean"
    between funding and specification", says the report.

    It is also necessary to develop efficient program on struggling against
    poverty, as even under the conditions of proper management of state
    finances struggle against poverty will have some regress. According
    to Alam, small countries with open economies should increase
    competitiveness and dive rsify the economy as there will be shortage
    of external resources, especially in the post-crisis period.
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