ArmInfo. The Central Bank of Armenia intends to coordinate work with the government of the republic on the targeted use of treasury funds accumulated in a single account with the Central Bank in the amount of up to 220 billion drams. Nerses Yeritsyan, Deputy Chairman of the Central Bank of the Republic of Armenia, said this on October 15 at a meeting of the Permanent Parliamentary Commission on Financial-Credit and Budgetary Issues during the discussion of the report on the execution of the state budget for the first half of 2019.
According to him, the accumulated funds, possibly in large volumes, are planned to be invested to the country's economy. Given the current monetary policy and weak signals from international markets, various areas of financing are being discussed. Within the framework of this policy due to de-dollarization of funds the volume of accumulated funds increased by 110-120 billion drams, amounting to 200-220 billion drams in total. At the same time, as the deputy chairman of the Central Bank continued, active lending to the country's economy continues. "We should, together with the government and in close coordination with the executive body, discuss financing directions," Nerses Yeritsyan noted.
Earlier, RA Minister of Finance Atom Janjughazyan noted that one of the functions of the treasury is to maintain a single treasury account and organize the budget execution process through this account. Another function is cash management, which is no less important in the sense that this ensures the funds necessary for budget execution, which at any time should be available on a single treasury account. At the same time, it is necessary to ensure that the available balance is used as productively as possible. The function of the treasury is also the management of public debt. Separate obligations in relation to the state or the state budget, for example, the management of loans, guarantees and various other obligations, are also under the treasury.
