YEREVAN, February 23. \/ARKA\/. Despite the difficulties Armenia faced in the beginning of 2009, the country has managed to survive the crisis, Armenian Finance Minister Tigran Davtyan said at Bridge-2010, seventh international economic forum held this weekend in Tsakhkadzor, Armenia.<\/p>\n
He said that confidence in Armenian banks has run high thanks to that.<\/p>\n
Armenia retained stability of banking system with minor losses.<\/p>\n
\u201cDespite the crisis, deposits in commercial banks considerably grew in 2009, and this shows confidence in the banking system,\u201d the minister said.<\/p>\n
He said that the government had also managed to leave the state budget expenditure unchanged.<\/p>\n
\u201cIt was not so easy to retain the previous year\u2019s expenses, but we did that thanks to quick attraction of domestic and outside resources and fulfilled our social commitments.\u201d<\/p>\n
Additional financing of the 2009 and 2010 state budgets are planned at $1 billon.<\/p>\n
The World Bank pledged $60 million, Asian Development Bank $80 million, International Monetary Fund $305 million and Russia $500 million to Armenia.<\/p>\n
Davtyan also stressed the importance of Armenia\u2019s image on the world market.<\/p>\n
\u201cThe reputation won thanks to long years of tireless work help us attract these resources quickly and on quite favorable conditions.\u201d<\/p>\n
He stressed the necessity to maintain macroeconomic stability. -0–<\/p>\n","protected":false},"excerpt":{"rendered":"
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