YEREVAN, 26 DECEMBER, ARMENPRESS. New approaches and flexibility are required in order to respond to global challenges and strengthen the foundations for stable, long-term economic growth. The spontaneity in Armenia’s financial market over the past month couldn’t be overcome with standard approaches. This is what Chairman of the Central Bank Arthur Javadyan mentioned during a traditional year-end reception at the Central Bank and emphasized that the Central Bank is working in a new environment where it’s necessary to adapt to the rapid changes in social behavior as well. 

Talking about the political and economic developments in the world and in the region, he mentioned that the structural changes have a condensed impact on Armenia’s economy. As for financial stability, Javadyan stressed the fact that Armenia’s financial market has proved several times that it can resist convulsions. “Nevertheless, I must say that even though the banking system is quite capitalized, in 2015 we’ll be setting more requirements for the stability of the banking system.”