YEREVAN (Noyan Tapan)–Armenian Prime Minister Armen Darbinian announced Thursday that the paralyzing financial crisis in Russia would not spread to Armenia–saying that the basis for the Russian crisis did not exist in Armenia.
Responding to an inquiry from Azg newspaper–Darbinian said that Russian economic crisis was pending and not a surprise.
Darbinian attributed the Russian crisis to that country’s fiscal budget and its deficit–the financing of which has been based on risky scenarios; the unrealistic disbursement of currency; and severe errors in managing Russia’s financial institutions.
The prime minister explained that the income and expenditures of Armenia’s budget had been forcasted on practical and pragmatic terms–thus warding off threats of unforeseen deficit.
Furthermore–Darbinian added that Armenia’s Central Bank was stable and the administration of the banking system had been secured.