YEREVAN, March 7. / ARKA /. Armenian economy must be optimistic about its future, but be prepared also for unexpected developments, economy minister Tigran Davtian said today.
"If we do not send optimistic impulses to business, its behavior will only be getting worse. We are all interested in improving the economy and attracting investors, therefore we should avoid pessimistic signals," he told reporters after a Cabinet meeting in response to a question on the possible impact of the
US budget sequestration on the Armenian economy. Davtian said the authorities are always ready for any development.
"Armenia is a country with a small economy, vulnerable to different processes in the global economy, so we keep in mind all the possible scenarios,” he explained.
Speaking of budget sequestration in the U.S., the minister noted that one should not overestimate the global impact of this process.
"Of course, certain signals will enter the market, but they, I think, will be short-term and leave no major impact on the global economy in the medium term," he stressed.
In early March, President Barack Obama signed an order to sequester the U.S. budget. The sequestration will trim around $85 billion from the US budget, with the cuts divided equally between defense spending and social programs.-0-