Finance minister on possible injection of bank deposits into financial market

09.12.2020 21:29
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-


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