RA Government's anti-crisis measures aimed at maintenance of jobs

PanARMENIAN.Net - Unemployment rate should be in the center of RA Government's attention.

"Socially unprotected population was the first to be affected by economic recession. The fact is proved by growing unemployment rate," RA Prime Minister Tigran Sargsyan reported at "Financial Crisis in Armenia: Social Impact" conference.



"By keeping unemployment rate in the center of our attention, we can understand the influence of economic development on social sphere," he said.



"Mining industry involving 6000 employees was the first to be affected by financial crisis. In financial crisis circumstances the government tried to assist people engaged in this sphere by providing consultations."





According to RA Prime Minister, investment increase in mining industry registered within recent years allowed to maintain jobs in this sphere. Employees' salaries remained unchanged and even those on temporary leave received 2/3 of their salaries.



"Governmental consultations resulted in decrees on preserving all work places in major mining factories till summer, which solves part of the social problem in our country. The first assistance package was offered to Zangezur Copper Molybdenum Factory to overcome temporary difficulties, purchase modern equipment, increase productivity and provide over 200 partner companies with production ordered at the factory," Tigran Sargsyan stated.



Prime Minister explained that in financial crisis circumstances, backbone enterprises, those upon which the work of other organizations or social situation in the region are dependant, are the first priority of RA Government.



Within the framework of anti-crisis projects RA Government credited $10 million on Libor + 6% terms to Zangezur Copper Molybdenum Factory.