MOSCOW, August 9, 2012 /PRNewswire/ --
FOREX CLUB announced that it hosted an economics conference in Yerevan, Armenia, entitled "Global Economy in Crisis: Biggest Threats and Ways to Save Capital", dedicated to the situation in the global economy and its impact on the economic situation in Armenia.
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The event was hosted by Andrey Dirgin, Head of Research, FOREX CLUB Group of Companies, and Mikael Verdyan, Analyst with FOREX CLUB Group of Companies in Armenia. Leading local media were also present at the event.
Mr Dirgin gave a speech on "How to Minimize the Impact of the Global Economic Crisis on Equity. Key Instruments of Investment." According to him, the situation in the eurozone is deteriorating compared with the economic situation in the U.S., but we should not overestimate the importance of Greece, whose share in the overall economic structure of the EU only totals two percent. In his opinion, the processes in the EU may pose a threat only if the situation deteriorates dramatically as a result of a chain reaction in major EU economies - Italy, Spain, and Portugal.
Talking about investment instruments that could reduce the impact of the crisis on savings, the expert advised keeping investment portfolios balanced, and investments diversified. "Focus should be made on protective assets that provide the biggest return at a given risk level. I recommend dividing funds between the dollar, euro, and commodity contracts, such as gold and other secure instruments," Dirgin said.
Mikael Verdyan followed up Dirgin's speech with a talk on the "Global Economy and Its Impact on the Economic Situation in Armenia: Armenia's Foreign Exchange Market." His view is that the global economy is still overcoming the ever-growing obstacles caused by the 2008 crisis. He predicts a 3.5% growth of the Armenian economy in the current year despite the fact that the World Bank expects economic growth in Armenia to be 3.8%, while the 2012 state budget stipulates 4.2%.
"We proceed from the unfavorable processes in the EU, which is Armenia's largest trade partner. In addition, the deterioration of the global economy has its negative impact on Russia, which is Armenia's second largest trade partner and a major investor in the country. Given these factors, we do not expect the growth of the Armenian economy to be higher than 3.5%," Mr Verdyan said.
Notes for Editors
About the speakers
Andrey Dirgin graduated from the Department of International Law, Moscow State University of International Relations (MGIMO), and the Diplomatic Academy of the RF Ministry of Foreign Affairs as a specialist in international economic relations. In 2005-2006, he held the position of Leading Analyst in the preparation of a number of studies in the United Nations Organization. From 2007 to 2008, Mr Dirgin worked as Senior Analyst at the investment division of IFC Metropol; from 2008 to 2009, he was Leading Expert on Global Markets in IC BrokerCreditService. In 2010, he joined the FOREX CLUB Group of Companies. He specialises in macro-economics in the Russian Federation and the United States, metals, oil, currency and stock markets.
Andrey Dirgin's biography in pdf format.
Mikael Verdyan graduated from Yerevan Engineering Institute of Economics, and completed post-graduate courses at the Economic Research Institute of the Ministry of Economic Affairs of Armenia. In 1999-2004, he held several senior positions in Tekhsnabkomplekt. Since 2004, he has been teaching at the Yerevan Trading Academy. From 2005, he has worked as an Analyst with FOREX CLUB Group of Companies. He specialises in the macro-economics of the Republic of Armenia, the commodity markets, stock and currency markets, as well as wave analysis of currency markets.
Mikael Verdyan's biography in pdf format.
About FOREX CLUB Group of Companies
FOREX CLUB Group of Companies was established in 1997 and is now one of the leading participants of the global online trading and forex industry. FOREX CLUB provides hundreds of thousand clients from over 120 countries with efficient access to trading in financial markets, and offers professional educational services in online trading, along with regular financial analysis.
The FOREX CLUB Group of Companies includes: LLC FOREX CLUB (FSFM license #004857), FOREX CLUB INTERNATIONAL LIMITED, and the International Academy of Investments and Trading (FSFM license #025928).
LLC FOREX CLUB is a founding member of SRO CRFIN, a self-regulating organisation established in order to develop an efficient model of the forex market regulation in Russia.
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