Arminfo. Discussions on the candidacy of a nominee for membership in the Board of the Central Bank of the Republic of Armenia began at the plenary session of the National Assembly of the Republic of Armenia on October 29.
The National Assembly Committee on Financial-Credit and Budgetary Affairs recommended Sevak Mikaelyan for the position. Secretary of the Civil Contract faction Volodya Hakobyan presented the candidate’s biography and professional career.
Sevak Mikaelyan thanked the Civil Contract faction for the trust placed in him and presented his observations and vision of the Central Bank’s main goals. He noted the Central Bank’s achievements in recent years, during which an independent, strong structure capable of withstanding shocks was formed.
The Central Bank’s main mandate is to contain prices and ensure financial stability. To address these tasks, strong institutional foundations were established, which became particularly evident during periods of economic uncertainty.
In his speech, Mikaelyan addressed three main areas in which he sees his mission if elected. In particular, the candidate pointed to the importance of ensuring the country’s long-term economic development, increasing confidence in the financial system, macroeconomic stability and economic growth. According to Mikaelyan, the development of capital and insurance markets is no less important.
He also touched upon the introduction of technological and innovative solutions and financial security, emphasizing the priority of combating financial fraud, which requires a systemic and conceptual approach. Possible changes in energy prices and fluctuations in remittances could seriously affect macroeconomic stability.
Answering a question about the possibility of a 69% increase in gas prices and their impact on the macroeconomic situation, the candidate noted that the Central Bank had already developed a scenario for such a development.
