YEREVAN. - Gold—instead of US dollar, Euro, and Armenian dram (AMD)—savings are preferred in Armenia in the past two months, Ameriabank official Tigran Jrbashyan said during a press conference on Monday.  

In his words, AMD was preferred in Armenia’s economy prior to that, but the most recent developments in the international market resulted in a deepening distrust toward the Dollar and Euro, which could have an indirect impact on Armenia’s financial market. 

As per Jrbashyan, “the current processes in EU affect Armenia’s economy,” and the bank loans could be reduced.    

Specifically, Armenia’s banking system already faces some problems in terms of involving European financial resources. According to Tigran Jrbashyan, in the best-case scenario, the European economic growth rate will slow, and, in the worst-case scenario, Europe will encounter its next period of recession, and this will definitely impact Armenia.