At a speech delivered yesterday at the National Assembly, Armenia’s Prime Minister Tigran Sargsyan promised that the government would take a more active role in the economic affairs of the country in light of the global financial crisis. In his speech the Prime Minister noted, “In Armenia, in conditions of low price flexibility, the role of the State Commission for the Protection of Economic Competition will be given greater importance, particularly towards the removal of the baseless distortion that has appeared between prices in the international and domestic markets. We are ready to assist the Committee in any measures it deems fit to initiate.”

Prime Minister Sargsyan spoke of the need to raise the level of competitiveness of existing and newly created business and the launching a $350 million credit package via a variety of banks to spur the development of medium and small business in the country.