King Banaian: Armenia will recover from crisis pretty soon

PanARMENIAN.Net - Armenia will recover from crisis pretty soon, according to King Banaian, professor and chairman of the Economics Department of St. Cloud State University, member of International Policy Research Group (AIPRG).



Comparing the situation in Armenia with recession in Asian countries, prof. Banaian said Armenia's economy suffered less losses that Indonesia's, for example.



"Indonesia was too late with devaluation of the national currency," he said.



Dwelling on the ways Armenia can combat the crisis, prof. Banaian said, "I suppose, Armenia should develop trade relations with other countries. It's also essential to assist families, which suffered from reduction of transfers."