Those speaking of Armenia’s big foreign debt do not know a thing about economy, said RA President Serzh Sargsyan (RPA chairman) Nov. 28 at the RPA 12th congress, NEWS.am correspondent reports. According to Sargsyan, one lends money to those capable of repaying.

RA President underlined that despite global crisis revenue-spending indicators of 2010 state budget will exceed those of 2009. The undertaken reforms and projects will proceed this year and the Government vows to continue financial assistance to Nagorno-Karabakh.

According to Sargsyan, in recent years Armenia faced with unplanned difficulties, inter alia global financial crisis, that resulted in 18% GDP fall. “However, we managed to avoid social collapse, and crisis consequences did not affect much our citizens. This was reached to a large extent due to the government and businessmen efforts involved in essential economic fields. However, currently, crisis diminishes and I am confident we will pass this history test. We should take steps implicating daily improvement of life in Armenia,” the President concluded.