Policy of the Armenian Central Bank does not further industry development in the country, Vazgen Safaryan, head of committee on economy and finance at the Public Council of Armenia, said at today’s press conference. He noted that CBA considers 7.25% refinancing rate high.   

According to him, policy carried out by the CBA made loans unavailable for country’s economy. The expert advised that economy should be financed not by banks but through intergovernmental credits.