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On October 16 the NA Standing Committee on Finance-Credit and Budgetary Affairs moderated by Gagik Minasyan debated in the first reading the package of the bills “On Amending the RA Law on Central Bank of the Republic of Armenia” and enclosed bills. The key speaker, the RA Central Bank (CB) Chairman Artur Javadyan has noted that as a result of amendments being designed, it will be possible to reveal and regulate the risks of the financial groups functioning in the RA, providing stability of the `financial system. It is also proposed to define that the CB will have a Chairman and two deputies, and in case of that it will be possible to form a full governing body, which will fulfill a functioning governance and establishment of current decisions.

The Committee endorsed the debated package for including it in the draft law of the agenda of the NA four-day sittings.

The Committee approved the brief description of the RA draft law “On State Budget of the Republic of Armenia for 2016.”

It was decided on October 30 at 11 a.m. to organize parliamentary hearings on the theme “The Process of the Investment of the Programme Budgeting in the Republic of Armenia.”