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On April 16, the RA National Assembly continued the work of the regular sittings, passing by voting the bills debated on the previous day.

Afterwards the parliament touched upon the item of the election of the RA Central Bank (CB) Chairman.

The RA NA Speaker Ararat Mirzoyan has informed that, In accordance with Part 1 of Article 201 of the RA Constitution and Part 2 of Article 145 of the Constitutional Law the Rule of Procedure of the National Assembly, the RA NA Standing Committee on Financial-Credit and Budgetary Affairs proposed Martin Galstyan’s candidacy nominated by My Step Faction for being elected in that position.

The Deputy Chair of the Committee presented the candidate’s biography, particularly noting that Martin Galstyan was born in 1978. He is an economist, in November 2018 was elected the RA CB Board member. Since 1998 until now, Martin Galstyan has worked in the Central Bank. The candidate also teaches in the American University of Armenia.

In his speech Martin Galstyan presented the CB activity and touched upon his vision and the works to be done.

The candidate has also presented the events that the Central Bank has initiated and is carrying out to ensure the financial stability in the country and eliminate the problems emerging because of the spread of Covid-19 pandemic.

The deputies’ questions to the candidate related to the consequences of providing loans to the citizens not having relevant monetary means from the banks and loan organizations for the citizens and other organizations, the percentage of the loans, the process of covering the loans in the economic hard conditions created because of the coronavirus pandemic, the events directed to strengthening of online payment system, etc.

In their speeches the MPs welcomed Martin Galstyan’s candidacy, highly assessed his experience and passed path. The MPs called on to vote for Martin Galstyan.

Mikayel Melkumyan delivered a speech on behalf of the RA NA Prosperous Armenia Faction. He also positively assessed Martin Galstyan’s candidacy and highlighted the provision of the Central Bank’s independence.

Lilit Makunts has presented the viewpoint of the NA My Step Faction and has quoted the main emphases of Martin Galstyan’s speech, which reflect the candidate’s vision of the CB’s further development.

In his final speech Martin Galstyan referred to the MPs’ raised questions and concerns, once again detailing his ideas on the further works of the Central Bank.

The NA Speaker Ararat Mirzoyan has informed that in accordance with the Part 9 of Article 145 of the Constitutional Law the NA Rules of Procedure, the CB Chairman is elected by secret ballot – by the third fifth of the deputies’ total votes.

The Chairman of the NA Counting Committee Vahagn Hovakimyan has informed that the voting the CB Chairman’s election will be held on April 17 from 10:30 to 12:30.

The parliament debated the draft laws on Amending the Law on State Allowances authored by the NA deputy Mikayel Melkumyan, on Making Addenda to the Law on Energy authored by the NA deputies Artak Manukyan and Babken Tunyan, on Making Addenda to the Law to the RA Water Code and on Trade and Services in the second reading and completely passing them.

The draft law on Making Addenda to the RA Law on Consumer Credits authored by the NA deputies Artak Manukyan was debated in the first reading.

Tigran Ulikhanyan presented the endorsement of the NA Standing Committee on Financial-Credit and Budgetary Affairs.

The RA CB Deputy Chairman Nerses Yerityan highlighted the establishment of the responsible crediting institute in our country. He has underlined that they are for the initiative, proposing to touch upon the problem in the package version.

The draft law on Making Addenda to the RA Tax Code authored by the Government was also debated in the first reading.

The deputy Tsovinar Vardanyan voiced about the endorsement of the NA Standing Committee on Economic Affairs.

The RA Minister of Environment Erik Grigoryan presented for debate the draft law on Ratifying the Agreement on Transboundary Movement of Hazardous Wastes through the Customs Territory of the Eurasian Economic Union.

The National Assembly will continue the work of the regular sittings on April 17.