The budget deficit and Armenia’s national debt have increased due to the Armenian Government’s anti-crisis programs. On the other hand, the Armenian economy is recovering, RA Prime Minister Tigran Sargsyan stated at his meeting with students of Ural Federal University on October 23.

Speaking of Armenia’s economic programs, the Armenian Premier said last year’s global; economic crisis caused a decline in the Armenian economy. “We implemented anti-crisis programs to prevent this process. As a result, we switched over to economic diversification and help small and medium businesses continue their activities. True, Armenia’s budget deficit and national debt increase. However, economy began recovering. This year we have only registered a decline in the agricultural sector, but we keep on implementing programs to resolve the problem,” Sargsyan said.

Tourism is one of the major industries in Armenia’s development, the Armenian Premier said. “Armenia has great potential for tourism development. The world’s longest ropeway was opened in Tatev a few days ago. It will find its place on the world tourism map. We are implementing development programs in Jermuk, Arzni and Sevan as tourist centers,” Premier Sargsyan said. He hopes many of the Russian students will visit Armenian tourist centers and get acquainted with Armenian history.