TIGRAN SARGSYAN: ARMENIA’S BANKING SYSTEM WAS BEST PREPARED FOR CRISIS

/PanARMENIAN.Net/
25.12.2009 17:31 GMT+04:00

/PanARMENIAN.Net/ 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.

, 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.