RA CBA Chairman: The factor of the Iranian-Israeli conflict may lead  to an increase in the refinancing rate

ArmInfo. The factor of the Iranian-Israeli conflict may lead to an increase in the refinancing rate in Armenia, as stated by Martin Galstyan, the Chairman of the Central Bank of Armenia, in parliament on June 17.

"We live in a time and region where  risks are incomparably higher,  and this should have been reflected in the refinancing rate, which  should have been higher. This is important as our most important task  is to maintain macroeconomic stability, and Armenia is the point  where this stability is maintained. We have a low budget deficit,  public debt of less than 50%, established tax regulations, and  a low  inflation rate. In other words, we have a strong foundation  on which  to base  structural reforms such as infrastructure, education,  science, sports, etc., that can help attract investment to the  country," the country's chief banker said. 

He pointed out that the Central Bank, with today's decision, has kept  the refinancing rate at the previous level - 6.75%, taking into  account even the unpredictable nature of the Iran-Israel conflict.  Galstyan also discussed investments, noting that the country's  commercial banks are actively financing investment projects for  companies. "In this area, we are seeing a growth of 20% once again.  However, the future belongs to equity capital,"  the head of the  Central Bank of Armenia concluded.