YEREVAN, APRIL 27, ARMENPRESS. Economist Tatul Manaseryan says the continuously increasing volumes of deposits in Armenia’s commercial banks is linked with several factors, which are post-crisis recovery, stable behavior of the banking system and the national currency, and improvement of partnership between the economy and financial platforms.

In 2008, a total of 496 billion 145 million drams (without interest rates) in deposits were present in Armenia’s commercial banks, in 2015 the volume amounted to 1 trillion 951 billion 107 million, and in 2016 – 2 trillion 413 billion 361 million drams.

“All this bring additional trust among depositors. We also have to take into consideration the fact that deposits in Armenian drams have become more appealing. This is an important signal for attracting additional financial resources. As you know, credit resources form on this basis. We must take into account that the overwhelming part of credit resources – around 70%, are provided from this sources”, he said.

Speaking on the poverty issue, the economist commented on the fact that the poverty level comprises a significant part in the country, but anyhow the deposits continue to increase. He said although the poverty level is pretty high, a trend of decrease has been observed in the last years.

“In addition, the deposits of commercial banks are on behalf of some segment of the society”, he said, adding there are also foreigners or dual citizens who make deposits – i.e. the sources are various.