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The RA NA Standing Committee on Financial-Credit and Budgetary Affairs nominated the candidacy of Armen Nurbekyan presented by the Civil Contract Faction presented to the National Assembly for the vacancy of the Deputy Governor of the Central Bank (CB).

The Chair of the NA Standing Committee on Financial-Credit and Budgetary Affairs Gevorg Papoyan presented the candidate’s biographical data and professional career.

As Gevorg Papoyan assured, the candidate’s professional characteristics are at high level. As in the elaboration of the monetary policy, so in the rise of the efficiency of the activity of the Central Bank Armen Nurbekyan has his unique role.

The candidate for the Deputy Governor of the Central Bank, thanking the NA Civil Contract Faction for nominating his candidacy, presented his vision, how he sees his role in the development of the Central Bank.

Armen Nurbekyan spent the great part of his work activity in the Central Bank: beginning from the financial stability he passed to the sphere of price stability. He noted that during those years he had learned that one of the main lessons that the various shocks serve as inseparable part of our life.

Touching upon the international inflation, and Armenia also remained part of it, the candidate assured that Central Bank will do its best to return the inflation to the target.

Speaking about financial stability, he underlined the Central Bank had undertaken actions in order the financial would be ready for different scenarios.

Summing up his speech, Armen Nurbekyan noted that today the communication is one of the most important tools, so the CB should be able to be perceivable for the public, be able to create feedback mechanisms in order to have a healthy dialogue.

The candidate also answered the deputies’ questions.

The member of the Standing Committee on Economic Affairs Tsovinar Vardanyan inquired if there are boosting means aimed at developing the insurance field. According to the candidate, to have qualified increase in the insurance sphere we shall be convinced that there are institutional investors in the market and the CB works in that very direction too.

The question RA NA deputy Arsen Torosyan referred to the cash withdrawal of the currency exchange and the entry commissions. Explaining the created situation, the candidate noted that the risks essentially increased related with the cash, and the private companies, where those cash comes from, abruptly raised the prices. He underlined that the Central Bank attentively followed that anti-competitive conditions will not be created.

The Deputy Chair of the RA NA Standing Committee on Economic Affairs Babken Tuinyan noted in his speech that he is glad for Armen Nurbekyan’s candidacy. He expressed conviction that their faction presented high qualified candidate. The Committee Deputy Chair underscored that they can find common ground on the border of correctness and healthy dispute.