-Policy of passing to a “floating” exchange rate and its increase is directly connected with the economy of the republic. The increase was necessary for regulating all the unequal conditions, where our economic entities - both government and private businesses occurred. It was a forced, but positive step. Because those who were engaged in importation were in privileged position. Different products were bought in foreign countries with dollars that have been gained in Armenia for the benefit of economic entities and those products were sold in Armenia, bringing huge profits to the importers. And those who were producing goods and exporting them had incomparable large expenses, but less profit. Now, with this forced step their rights will not be limited and the production will not suffer. Besides that, those people who were receiving money from their relatives abroad were complaining about the fact that in the conditions of reduced rate 100 USD for example, which was sent to them from abroad, was not enough even for communal payments. Now the exchange rate increased.

- Yes, the dollar exchange rate increased but at the same time the prices also increased. People began to buy goods as fast as they could and now they continue buying, being afraid of the future expensiveness.

- That panic and bustle was more likely initiated by those for whom it was very advantageous to sell the goods at a high price. Although I think that everything will be regulated and stable as well as the prices. 

- How can Armenia be involved in world financial crisis and how can the consequences of this crisis affect our country?

- A world financial system exists. The flow of financial funds organizing is very similar to a very complicated pipeline. Therefore as in every tube here also many blockings can occur from time to time and blockings for movements, which will need some time for liquidating, for example 3 years, in order for the pipeline to be cleaned and   in order for it to operate without any disorderliness. Speaking about Armenia, it gets some drops from that pipeline, which are getting less in the conditions of the crisis or even disappear at all. The financial system of Armenia is just starting to develop and does not have its general component parts: social insurance system (which includes state insurance, medical insurance and other types of the insurance), capital market (securities), etc. The whole financial system in Armenia is based on banking system, which is more developed. However the capital of our all banks, as strange as it is equals to capital of one of the small banks in Moscow which does not take part in any ratings.  And that’s why Armenia as well as other small countries with undeveloped financial systems can occur even in profitable conditions, because the developed countries can provide assistance for certain reasons.   That is to say, Armenia will receive 525 million USD priority credit from the USA, and half billion dollars from Russia. If that assistance is used appropriately and productively, then our country will have some success in the scales of its economy.  

- Can we reach to any success in the development of our economy, using the “privileges” of small countries and provided priority credits in these conditions of world financial crisis?

- External and state different anti-crisis programs stipulate more flexible behavior towards small and middle businesses in order to help the production sphere. 300 million dollars are foreseen to be provided for that sphere for creating favorable conditions in that sphere.   On another hand, producers must also operate very active and not just receive assistance. Speaking about the taxes that influence on the production, an individual and distinctive approach is just necessary here. Especially towards small and middle business, which otherwise won’t exist.