ArmInfo.In the conditions of martial law and the current situation, it is difficult to predict the volume of possible investments, including foreign direct investment. On October 9 in the parliament of the country during the presentation of the final version of the draft state budget of Armenia for 2021, answering the question of the deputy of the National Assembly Sergey Bagratyan, RA Minister of Finance Atom Janjughazyan stated.
Sergei Bagratyan, in particular, pointed out the need to attract deposits from the population to the country's economy. According to him, about $ 8 billion has been accumulated in the banking sector alone, and if at least $ 1 billion is used to develop the real sector, serious results can be achieved. In addition, the use of free funds as investments in the real sector will be more efficient (15%) than household deposits in banks.
However, as the minister noted, this proposal is more related to the issue of formation of the capital market in Armenia, which is currently being dealt with by the RA Ministry of Economy and the Central Bank of the country. Atom Jajughazyan noted only that it is difficult to expect that the process of formation of the capital market will be carried out in a short time. Banks, depositors, and other business entities have histories that have formed over decades. In this situation, it is important to form such companies that will deserve the trust of depositors and bankers, despite the fact that there are units that do not serve their purposes. And the task of the authorities is to create real prerequisites for the implementation of these goals. But both parties must be present on the site - companies that inspire confidence, which will be able not only to attract loans, but also to place shares. This process is underway and does not involve the use of single actions. This is a set of issues to be addressed.
