President attends CBA-hosted gala reception on New Year and Christmas holidays

President Serzh Sargsyan attended the Central Bank-hosted reception dedicated to the New Year and Christmas holidays.

The President of Armenia congratulated all employees of the Central Bank and the Armenian banking system and their families on the upcoming holidays. Serzh Sargsyan wished that the achievements stated last year in both economic and political spheres might be continued in 2018 covering ever new forms and areas.

“I think you are more aware than anyone else of this year’s economic indicators and, in this connection, I want to highlight the role of both the Central Bank and commercial banks in ensuring these indicators. It is extremely important for you to take the lead. Your example should be infectious for others,” President Sargsyan emphasized, noting that he did not accept at all those assertions that the financial system should try to influence the economy mediating unnecessary fiscal leverages.

“It is clear that the financial system’s intervention predetermines the country’s progress and economic growth in many respects, but only when it comes as an objective reality, not as an artificial means,” the President said.

The President thanked the banking system staff for their efforts which helped develop the financial system in 2017 and wished them further success.

In conclusion, Serzh Sargsyan touched upon the main problems and tasks facing the Central Bank in 2018.