YEREVAN, October 28. /ARKA/. The decrease in the population’s deposits in the banking system of Armenia does not exceed 1%, Central Bank Chairman Martin Galstyan said at a press conference on Tuesday.
In his words, there is a certain reduction in savings for both individuals and organizations, but not significant.
“In general, citizens have slightly reduced their savings, but the figure does not exceed 1% of deposits in the entire banking system,” Galstyan said.
He pointed out the context and reasons for the decrease in the indicator, emphasizing that the withdrawal of funds is not due to problems in the system, but due to other circumstances.
The coronavirus and the general economic situation of economic entities are among them. Since economic entities have certain decreases in income, and they compensate for this through savings made earlier.
In addition, as the head of the central bank noted, the people who went to the war frontline preferred to withdraw cash and leave them at home for their families. There are also people who donated their savings for charitable purposes sending them to the Hayastan All-Armenian Fund.
“On the whole, we have an extremely conscientious and reasonable society, because what the central bank managed to accomplish for financial stability and in financial markets would have been impossible if it had not been for the extraordinary consciousness of the population. We are pursuing our policy with minimal costs, since there is no panic and excitement on the part of society, which means that our dialogue with society has taken place, and, I hope, it will be long-lasting. This comes from the country’s national interests,” Galstyan said. -0-
