YEREVAN, MAY 16, ARMENPRESS. Armenian Prime Minister Nikol Pashinyan keeps the money from the sale of his car in bank in drams as a deposit, the PM said at a press conference today.

“In the past two years a decline in dollarization level is noticed in the banking system. The dollarization level of loans provided by commercial banks in 2019 comprised 53% compared to the 59.5% of 2018. The dollarization level of deposits in 2019 comprised 59.3% compared to the 60% of the previous year. This means that our compatriots more and more trust the dram and prefer to keep their deposits in drams, and also take loans in drams. I also do the same. For instance, I recently sold my Hyundai and keep the money from it in the bank in drams as a deposit”, Pashinyan said.

He added that the share of overdue loans in the loans provided by Armenia’s commercial banks in 2019 declined and comprised a record low level in December - 0,85%. In 2018 this figure was 1%. In March 2020, the loans provided to the legal persons and individuals increased by 20.3% compared to the same period of 2019. “This figure shows that the Armenian citizens more than ever before not only take loans, but also are capable of serving these loans properly, which means that they had proper incomes”, Pashinyan said.

Reporting by Anna Grigoryan; Editing and Translating by Aneta Harutyunyan