74 billion AMD from Russian loan have been allocated to financial-banking sector (in 2009 the Russian Federation gave about 500 million dollar loan). That was reported today, on September 12, by ANC government’s representative, former Prime Minister Hrant Bagratyan at the National Assembly.
“They take a more expensive credit from other state, and give it to the banking sector as a resource, “said H. Bagratyan
RA Minister of Finance Vache Gabrielyan said that previously credit resources were also received from international organizations and were given to the banking system as a resource, which distributed it to the real sector of the economy. But the former prime minister was not satisfied with this answer. “In 2009 the economy decreased for 15% and bank profits increased for 50%, “said H. Bagratyan, adding that banks should work for the economy, not vice versa.
