YEREVAN. – Armenian PM Tigran Sargsyan attended and addressed at the official opening of a conference devoted to money transfers.   

He noted that two-thirds of the Armenians live abroad and this means remittances are of primary importance for Armenia, the Government press service informed Armenian News-NEWS.am. “We are obligated to look toward the future in an attempt to reveal all those possible challenges and risks [that exist] in this domain,” the PM said.     

In Sargsyan’s words, the Government of Armenia attaches a great importance to the country’s telecommunication sector. “We have achieved great progress in this sector in recent years and we are holding leading positions in the region. Also, there will be reforms which will have a serious impact on the development of the domain of remittances,” the Premier said.      

He noted that the E-reporting system is being put into service in the tax sphere. “That is, a solid base is being created in Armenia for the development of E-banking and money transfers.,” Tigran Sargsyan said.    

In addition, he stressed that the Government was successful in strengthening Armenia’s banking system. “Unlike the other CIS countries, the first wave of the [global] financial and economic crisis did not touch our banking system because the level and liquidity of the capital were high,” the PM noted.