The results of the report on Armenia's competitiveness showed that the financial crisis revealed weaknesses of Armenian economy, Prime Minister Tigran Sargsyan said.

''The number of private transfers has decreased sharply. The construction industry suffered a slump. This means that the diversification level of Armenian economy is very low,'' he said.

According to the Prime Minister, the report on the republic's competitiveness is of great value, since it prompts ways to overcome the consequences of the crisis.

''The government is constantly working to resolve the issue but science-production formula has not been found yet,'' Mr. Sargsyan said.