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Central Bank does not have resources: Armenian Government to allocate 10 billion drams to CB (video)
The Armenian Government decided in its Thursday sitting to allocate 10 billion drams from the state budget to the Central Bank as the Bank has a shortage of resources. Addressing the Government sitting, Prime Minister Hovik Abrahamyan said he met Serzh Sargsyan yesterday evening and they decided to allocate the money to the Bank to solve the problem of resource scarcity. The premier added that ACBA Bank provides loans to citizens [engaged in farming] with14% annual interest rate and 6% of the money was subsided by the CB. But now the Bank is encountering certain problems, and they decided to help the CB. The government will provide 3 billion drams to the CB in May and 7 billion drams by the end of the year.
