On March 24, Armenian Prime Minister participated in student conference titled “20 years of Armenian independent economy” in Armenia’s resort town of Tsaghkadzor. In his report Tigran Sargsyan presented the roots of crisis and possible solutions.

According to the PM, Armenia currently faces the problem of creation of favorable climate for savings collection.

“Funds collected as a result of the savings must be aimed at economic development, particularly implementation of pension reforms envisaging creation of pension funds,” he said.

The PM further underscored the importance of balanced development of the state and “funds distribution from the rich to the poor”, which necessitates domestic sources of economic development.

“Currently global economy is interconnected. Customs borders must gradually be eliminated, with trade liberalization and formation of common markets in the world economy playing a major role,” he said.

The conference is organized by the student council of the Armenian State University of Economics (ASUE) jointly with Armenian Youth Foundation. Aimed at promoting students’ scientific activity it has brought together over 100 participants.