At Monday meeting the government of Armenia came up with the decision to cut down on the budget expenditures. "We need to use the State resources sparingly and to carry out the expenditure commensurate with our revenue. We must be ready for the worst scenario to come, said Tigran Sargsyan, Armenia's Prime Minister. The uncertainty of the situation is too big and under the current situation Armenia will move to a quarterly budget planning.

The head of the Government said that the following items regarding the economy are protected, namely social expenses, pension expenses, allowances, salaries, defense expenses; the rest of the expenses will be carried in the regime of rigid economy.

Since the world crisis is developing by a no good scenario, and the forecasts by WB and IMF have been reviewed four times for the last month. That is why need to work more efficiently, be prompt to spend as much as we can get from taxes," said the Prime Minister.