The world financial crisis creates a number of risks for Armenian economy, ex-premier of Armenia Hrant Bagratyan said. He pointed out that the crisis effects on Armenia's economy are not so visible due to economic isolation of the country. Yet, some effects could be expected, he said.

According to Bagratyan, the first risk is connected with reduction in transfers from the USA and Russia to Armenia. The second risk is with the banking sector due to liquidity problems experienced by foreign banks. Large-scale construction is also placing a threat to Armenian economy as it is carried out through loans extended by Armenia's commercial banks, Bagratyan said.

He also stressed that prices for molybdenum and cooper are going down due to the crisis, thus, leading to reduced income from export. The fifth risk, according to Bagratyan, is connected with bonds and the government should develop appropriate measures in this respect.
