State mentality change superior to policy reforms – Central Bank official

What Armenia needs to promote promising reforms is a change in state mentality, not government policy, a deputy president of the Central Bank of Armenia (CBA) said today, sharing his vision of the country’s future economic development.

Speaking at the Second International Conference of Armenia’s Internal Auditors, Nerses Yeritsyan recommended following the CBA’s example as a permanently changing body.

“This will enable us to become a developed country. So we need to use the Central Bank’s example of changing institutions. The question I have been asking myself in the past 15 years is whether Armenia will have success in the 15 or 20 years to come,” he said, calling for more rapid efforts towards implementing the reforms.

He added Armenia needs only changes not a revolution.  That will be sufficient,” he said, stressing further the importance of managing wealth and boosting the GDP growth to attract wealthy investors.