YEREVAN. - Head of the State Property Management Department Karine Kirakosyan pointed out that over 2,000 large and middle-sized, 7,000 small pieces of government property worth a total of $108 million had been privatized in Armenia by January 1, 2010.

The State Property Management Department, Government of Armenia, has reported to the Armenian Parliament on Thursday.

At present the government has focused on improving market competition, creating jobs and increasing state budget, which is the most difficult stage of the privatization program.

“We proposed amendments to the law to extend the privatization term,” Kirakosyan said.

The international economic crisis, which hit investors’ pocket, proved a hindrance to the privatization process.

“Also, the property is not so attractive to investors, which is another deterrent factor,” Kirakosyan said.