ArmInfo. The Central Bank of Armenia has begun to lose ground to the competition from the country's commercial banks in terms of salaries for qualified personnel. Martin Galstyan, head of the country's central bank, stated this at parliamentary hearings.
He recalled that, according to the RA Law on the Central Bank, the average salary of the regulator's employees should correspond to the average salary in the country's banking sector. However, in recent years, the gap between salaries has been approximately 36%, unfavorable to the central bank, leading to a high outflow of highly qualified specialists. While the average number of employees leaving the Central Bank from 2018 to 2020 was approximately 50 per year, this figure will double from 2022 to 2025. He recalled that the Central Bank of Armenia's administrative expenses in 2025 amounted to 11.3 billion drams, approximately 90% of which was for the maintenance of the agency's staff. Of this, 90% went toward salaries and equivalent payments.
It should be noted that, according to the Financial Rating of Armenian Banks, the average salary in the country's banking sector was 1,050.7 drams, or approximately $2,755 per month.
