Yerevan /Mediamax/. Armenian Prime Minister Tigran Sarkisian stated in Yerevan today that the actions of the government## and the Central Bank allowed the country withstanding the first wave of the global financial crisis.

Mediamax reports that, speaking in the National Assembly today, the Prime Minister stated that the new wave of the crisis is pregnant with the following risks for Armenia: reduction of investment and private transfer volumes, delays of investment programs in the sphere of capital construction.

“These risks may lead to the increase of shadow economy volumes and the consolidation of corruption”, the Prime Minister admitted. According to him, to avoid shocks, the government should secure stable macroeconomic growth.

Tigran Sarkisian stated that the government has elaborated a number of additional measures to overcome the possible consequences of the international crisis. In 2009, the government plans to assist the development of the real sector of economy through providing state guarantees under large financial projects, participating in the authorized capital stock of enterprises.

“To develop small and medium enterprise, the government intends to secure availability of large investment programs of the World Bank, the International Monetary Fund and the Asian Bank, as well as to simplify tax administration”, Tigran Sarkisian stated.

Another step named by the Prime Minister is the establishment of free economic zones in the international “Zvartnots” Airport and in Gyumri. According to Tigran Sarkisian, works are already in process on signing agreements on trade cooperation with the European Union and the USA, which will simplify the work of Armenian exporters.

Tigran Sarkisian also noted that the World Bank holds talks on providing loans at the sum of $800mln to realize additional programs in all the vital activity spheres of Armenia.