Monday, September 30 2013 18:10

Financial intermediation level in Armenia has considerably risen over past 6 years


ArmInfo. The level of financial intermediation in Armenia has considerably risen over the past 6 years, Armenak Darbinyan, member of the Council of the Central Bank of Armenia (CBA), said at a press conference on Monday when replying to ArmInfo's question.

"Several years ago the share of financial assets in GDP ranged from 30% to 35%, but now it is nearly 70%", said Darbinyan.

He added that the share of lending in GDP exceeds 40% now, but several years ago it was nearly 18-20%.

"These indices lag behind the indices of the developed countries, but as compared with the countries of our region, they are quite acceptable and commensurable", he said.
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