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The coronavirus crisis did not directly affect the banking system. It is stable, so far there is no increase in loan interest rates. This is the opinion of banker Levon Hampartzoumian on bTV’s “This Sunday.”
“The previous crisis was mainly a crisis of liquidity and mistrust between the banks and the lack of sufficient capital in the banks themselves. In ten years, these things have improved in such a way that the global banking and financial system is more resistant to shocks, even some unpredictable ones. So today in Bulgaria and around the world banks are in much better health than in the previous crisis, “said Hampartzoumian.
He insists that the best and safest place to store our money is in the banks, and the 57 billion savings prove it.
However, at the same time, interest rates on deposits fell to 0%.
The natural thing is that money brings money when it is invested in something. Otherwise, what is the incentive for an entrepreneur to invest his money, take a risk, not sleep, if he can only make a deposit and earn a living from it?
He also shared his opinion on the new debt, which the state retired five days ago for an amount of BGN 5 billion.
Technically, the operation was brilliant. What is important to me is how we spend the money. Until now, they have been taken to create shock absorbers at an uncertain time. This makes the same sense at the state level. How does the state spend this money, with what mandate, for what? This is yet to be learned. Prudent spending of money will lead to something else, Levon Hampartzoumian added in conclusion.
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