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Armenia mired in economic crisis

27 August 2008 20:40 (UTC+04:00)
Armenia mired in economic crisis

Armenia is mired in economic crisis, with food supply problems now adding to the gasoline shortage the country has already been facing for several days.
The predicament has fueled the struggle of opposition leader Levon Ter-Petrosian`s Nationwide Movement with the authorities.
Ter-Petrosian, a former president, said the government should lift the monopoly on fuel imports. The opposition also demanded that a consistent plan be worked out to curtail hikes in domestic prices.
Ter-Petrosian charged that the conflict in Georgia`s unrecognized republic of South Ossetia "has once again revealed President Serzh Sarkisian`s incompetence".
"20 days after the conflict erupted, its consequences affected the Armenian economy, and the situation continues to deteriorate," the opposition leader said.
The movement said that even during the Garabagh war in the early 1990s, the economic situation in Armenia was not that aggravating.
"Although the government then managed to find a way out, the incumbent authorities are unable to resolve the crisis. The people are getting increasingly disgusted with the authorities," Ter-Petrosian said. He added that public resentment of the incumbent administration will bring in masses of protesters to the opposition`s rally scheduled for September 5.

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