Tigran Sargsyan: Armenia's banking system was best prepared for crisis
Armenia's banking system was best prepared for the crisis, according to RA Prime Minister Tigran Sargsyan. "Armenia is the only country which paid no single penny to commercial banks in order to receive assistance," he told a resulting news conference in Yerevan.
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At that, he noted that citizens' savings in 2009 increased by 30%. "That testifies to increased trust in the banking system," the Prime Minister added.
The phenomenon, according to him, is characteristic of all countries where citizens save means in anticipation of the worst outcome. Hence positive changes will help attract more investments in the banking system and create new workplaces, promoting economic growth, Armenian Premier said. In that connection he stressed the importance of providing proper information to public.
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At that, he noted that citizens' savings in 2009 increased by 30%. "That testifies to increased trust in the banking system," the Prime Minister added.
The phenomenon, according to him, is characteristic of all countries where citizens save means in anticipation of the worst outcome. Hence positive changes will help attract more investments in the banking system and create new workplaces, promoting economic growth, Armenian Premier said. In that connection he stressed the importance of providing proper information to public.
