Sun, 8 June
17.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Finance minister on possible injection of bank deposits into financial market

YEREVAN, December 9. /ARKA/. Armenian Minister of Finance Atom Janjughazyan commented today on the possibility of injecting individual bank deposits into the financial system in 2021, when asked by MP Sergey Bagratyan what was being done to turn the country’s domestic resources into long-term investments.

The lawmaker stressed that at the moment the individual bank deposits are estimated at the equivalent of about $8 billion.  In this context, he asked what tools the government and the Ministry of Finance used in order to inject at least $1 billion of that money into the financial market in 2021.

“This issue is on the agenda, it is possible to implement it in 2021, but I find it difficult to say what result it will give, irrespective of the amount” Janjughazyan replied…

He stressed that this issue is related to the capital market, which is not yet  established and it is quite difficult to claim that ‘we will be able to have it in a very short time.”

Janjughazyan stressed that it is important to have organizations that inspire confidence in people and are ready to attract funds not only in the form of bank loans, but also by issuing or selling a company’s share or bonds. ($ 1 – 514.13 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

LATEST NEWS

spot_imgspot_imgspot_img