YEREVAN, October 29. /ARKA/. Significant outflow of specialists from the Central Bank of Armenia is seen this year – 100 employees have quit the regulator over 2019, Arthur Javadyan, the central bank chairman, told journalists on Monday.
The government budget for 2020 implies a 1.3% increase of regulator’s spending to AMD 7 billion 332 million, the bulk of which will be targeted on administrative needs. In his words, salaries at the central bank remain unchanged already several years. Also this year, he said, only a 1.9% natural increase is planned – length of service and other indicators are taken into account.
The head of the central bank said that under the law on the central bank, an average salary here shouldn’t be lower than that at commercial banks, but unfortunately, it is lower today. “We haven’t raised the salary, even given that Armenian commercial banks are planning an 8-percent increase in 2020,” Javadyan said.
He stressed that such uncompetitiveness and vulnerability, compared with commercial banks spurs the every-year outflow of employees from the central bank.
Javadyan said 50 to 60 employees quit the central bank every year, but this year the regulator has lost already 100 specialists. ($1 – AMD 476.03). –0—
