Armenian parliament approved Martin Galstyan`s candidacy for a member  of Central Bank Board

ArmInfo. The National Assembly of Armenia approved the candidacy of Martin Galstyan as a member of the Board of the Central Bank of Armenia at the meeting on  September 11. As a result of a secret ballot, in which 87 MPs out of 105 took part, 78 parliamentarians voted for Galstyan's candidacy and 9 against.

A day earlier, introducing the vision of his work at the Central  Bank, Martin Galstyan noted that Armenia's banking system is stable  and sufficiently capitalized. According to him, the services of  banking system of Armenia are accessible to the population and  economic agents, and a high level of market competitiveness allows to  reduce the spread on the rates of active and passive operations and  increase the productivity of the activity. As a result, Armenia  avoided banking crisis, no bank faced the problem of solvency, the  candidate for membership to the Board of the Central Bank of Armenia  stressed. Moreover, due to the reforms implemented, the level of the  system's indicators is unprecedented, since the ratio of assets of  the banking system to the country's GDP reached 80%, and credits /  deposits to GDP - 45%.