Armenia is not the country responsible for the global economic crisis, World Bank Country Director for the South Caucasus Asad Alam said.

"The crisis affected economies of all states. At that, Armenian economy perspectives depend on the world economy development," he told an international conference which kicked off in Yerevan today.

Mr. Alam described the government's anti-crisis program as efficient, since it envisages maintenance and even creation of job opportunities. Besides, measures are taken to alleviate the impact of the crisis on poor population strata.

He said Armenia is experiencing the hardest period of the economic crisis at the moment. "Nevertheless, we expect some growth by the end of the year," he concluded.