Armenia to improve its economy

Armenia’s Prime Minister Tigran Sarkisian stated on November 8 that in 2012 his country plans to increase economic development up to the level of the pre-crisis period. During the first five months of this year Armenia’s economy increased by 5 %. Sarkisian also said that diversification of the Armenian economy is underway to reach a level that can create more jobs and eliminate poverty. Some local analysts, however, express concerns that Armenia could face a second wave of the economic crisis coming from the direction of the Russian economy, to which is closely connected.