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Armenian President urges Central Bank to attract banks' attention to
the agriculture sector
YEREVAN, March 13. /ARKA/. Armenian President Serzh Sargsyan, speaking
Friday at his meeting with ministers, urged Arthur Javadyan, chairman
of the Central Bank of Armenia, to attract banks' attention to the
agriculture sector.
`I understand very well that our banks are commercial, that they are
doing business and unnecessary interference in their activities can
have adverse impacts on them,' the presidential press office quoted
Sargsyan as saying. `However, I think you can spur banks' interest in
the agriculture area and pay greater attention to it.'
Stressing that the central bank is one of the most accomplished
establishments in Armenia for its capacity and human resources,
Sargsyan said he saw nothing abnormal in the regulator's efforts to
curb price hikes.
Addressing to Javadyan, the president noted that the latter had
repeatedly pointed out the agriculture sector's role in inflation.
`If so, why shouldn't we focus out attention on rural areas?'
Armenia recorded 9.4% yearend inflation in 2010.
The Central Bank of Armenia has projected a high inflation rate for
the first half of this year.
However, the regulator says inflation will subside in the second half
of this year coming close to the 4-5.5% projected in the government
budget.
Armenia's agriculture sector faced 13.5% decline in 2010.-0--
From: A. Papazian
the agriculture sector
YEREVAN, March 13. /ARKA/. Armenian President Serzh Sargsyan, speaking
Friday at his meeting with ministers, urged Arthur Javadyan, chairman
of the Central Bank of Armenia, to attract banks' attention to the
agriculture sector.
`I understand very well that our banks are commercial, that they are
doing business and unnecessary interference in their activities can
have adverse impacts on them,' the presidential press office quoted
Sargsyan as saying. `However, I think you can spur banks' interest in
the agriculture area and pay greater attention to it.'
Stressing that the central bank is one of the most accomplished
establishments in Armenia for its capacity and human resources,
Sargsyan said he saw nothing abnormal in the regulator's efforts to
curb price hikes.
Addressing to Javadyan, the president noted that the latter had
repeatedly pointed out the agriculture sector's role in inflation.
`If so, why shouldn't we focus out attention on rural areas?'
Armenia recorded 9.4% yearend inflation in 2010.
The Central Bank of Armenia has projected a high inflation rate for
the first half of this year.
However, the regulator says inflation will subside in the second half
of this year coming close to the 4-5.5% projected in the government
budget.
Armenia's agriculture sector faced 13.5% decline in 2010.-0--
From: A. Papazian