On May 22, Gagik Minasyan, President of the Parliament's Financial and Budgetary Affairs Committee, said that Armenia would come out from under the grips of the global financial crisis in the 4th quarter of 2009. Mr. Minasyan argued at a press conference that the rest of the world would see a easing of the crisis by the 3rd quarter of 2009 and that Armenia's economy is trailing global trends by 3 months. He stated, "This will not mean that we will witness economic growth, but as of the 4th quarter things will not get worse." Regarding the $500 million loan recently secured from Russia, Mr. Minasyan said that it will be used to spur small and medium business growth in Armenia, but that there are no restrictions as to how it can be allocated. Reporters asked MP Minasyan about the tense debate in parliament regarding the placement of a tax inspector within Armenia's largest enterprises. He responded that there were disagreements as to how the government could keep better tabs on the revenue streams of such firms. When asked if "oligarch's, sitting as members of parliament, would ever allow such monitoring of their financial affairs, Mr. Minasyan responded, "If I understand correctly what you mean by the term 'oligarch', legislation on the books clearly prohibits any individual engaged inj business from becoming a member of parliament. Given this, the problem is resolved." When a reporter called out the names of Gagik Tzarukyan, Samvel Aleksanyan and Gagik Minasyan as examples of MP's engaged in business. Mr. Minasyan responded, "If anyone believes that these people are breaking the law they can bring up the matter in court." He added that the law doesn't prohibit individuals to engage in business under other names.