YEREVAN. – German ambassador to Armenia Matthias Kiesler confessed he would have kept his possessions in the Armenian banks, if he had any.

Speaking during an event dedicated to the World Savings Day, he said the Armenian currency is rather stable, and the risks for making deposits and investments in Armenia are rather low, which indicates the good work of the Central Bank and the banking system of Armenia.

“I would have kept my savings in Armenian banks, if I had any but I invested some of my savings in real state in Germany, and at the moment I cannot open a deposit account in Armenian banks,” the Ambassador said, answering the question does he intend to keep his money in Armenian banks, since the interest rates on deposits in effect here are higher than in German banks.

“But, of course, I recommend keeping money in banks, if the confidence in them is high,” he added.

He noted that to save money is a historical tradition in Germany, and at the moment, including in the framework of this event, the possibility of introducing the German economy model in Armenia is being considered.

“Deposit rates today are quite low all over the world, and the matter is whether to keep funds in banks in such conditions. I think yes, because saving money makes it possible to predict your future. This is the German model of economy, which has proven itself to be effective throughout the world, and we are studying whether it can be applied in Armenia and whether Armenian banks are ready to provide assistance in this format,” he ambassador said.

The World Savings Day is marked on October 31.