Ninfographics at the end
The highest official of the Central Bank is the Governor of the Central Bank. The Govermor of the Central Bank is elected by the RA National Assembly for a term of 6-years.
Martin Galstyan, has been elected to this position since 13 June, 2020. Prior to that he held the position of a Board member of the Central Bank in the period of 2018 to 12.06.2020.
Iravaban.net regularly presents the declarations property and income of officials. This time we will refer to the declarations of the Governor of Central.
In 2018, when assuming the position of a member of the Board of the Central Bank of Armenia, Martin Galstyan declared:
- 2 apartments,
- an individual residential house,
- a garage,
- 5,000,000 AMD,
- 12,000 USD.
As of the day of assuming office, his income amounted to 23,004,520 AMD from his salary and two other incomes. He also gave two loans in the amount of 25,89,716 AMD and 5,030 USD.
In his annual declaration for 2018, his funds amount to 9,000,000 AMD, 17,000 USD, 1,000 EUR.
The number of loans given by Martin Galstyan is also decreasing, amounting to 4,143,509 AMD and 5,079 USD.
In this year, his income was 47,218,553 AMD, received from two salaries, income from other civil law contracts. He also received a donation of 208,700 AMD.
From the declaration submitted in 2019, it is already clear that the individual residential house is located in Dilijan, Tavush region; it is a joint property, which was bought in 2016. One of the apartments was also jointly owned in 1994 and is located in the center of Yerevan. The other apartment is a private property, in Yerevan, in Avan, bought in 2010, and the following year he received the garage as a donation.
In 2019, his loans amounted to 7,306,757 AMD. He also made a deposit in the bank, which amounted to $39,936 at the end of the year.
Martin Galstyan’s funds in bank accounts amounted to 1,610,093 AMD, 3507 EUR, and the maney in cash – 10,000,000 AMD, 10,000 USD, 5,000 EUR.
Let’s emphasize that in 2019 he received donations in the amount of 2 million AMD and from the Central Bank in the amount of 169,937 AMD.
His income:
In 2020, when he has already assumed the post of the Central Bank, the declaration states that a plot of land was acquired in Dilijan with joint ownership. Interesting here is that the Central Bank was the other partner of the acquisition of the land.
He bought a bond in the amount of AMD 7,120,000 from Inecobank.
The amount of the deposit made in USD was 41,175 USD.
Martin Galstyan’s funds in the bank account amounted to 9,808,220 AMD, 3,478 EUR.
Cash funds: 9,000,000 AMD, 5,000 EUR, 10,000 USD.
The revenues in 2019 amounted to:
In 2021, Martin Galstyan bought another bond from Inecobank for 8,080,000 AMD, the other bond in the amount of 7,120,000 AMD is still available.
The amount of the deposit at the end of the year was 42,756 USD.
The funds in the bank account were 19,454,763 AMD and 4,404 EUR.
Cash funds were: 15,000,000 AMD, 10,000 EUR, and 15,000 USD.
Martin Galstyan took a 68,729,447 AMD loan in 2021.
His income was:
According to the submitted declaration on expenses, he made several large payments, which totaled to 14,786,853 AMD.
Payments aimed at repaying the loan – 7,286,853 AMD,
Travel expenses for recreation – 5,000,000 AMD,
Rent paid for studies or other courses – 2,500,000 AMD.
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Martin Galstyan’s wife, Astghik Ararktsyan, declared 5,000,000 AMD, 7,000 USD in 2018. The income was 10,178,429 AMD, from the salary received and the interest received for the loans given.
She gave three loans, which amounted to 4,730,159 AMD, 1,600,000 AMD, and 1,200 USD at the end of the year.
In 2019, Astghik Ararktsyan declared:
- Apartment – shared ownership, in Yerevan, Kentron administrative district,
- Garage – sole property, in Yerevan, Kentron administrative district,
- Plot of land – shared ownership, Kotayk marz, Hrazdan,
- A PEUGEOT car, 2002 production, purchased in 2002 and sold at the end of 2019,
- Deposits in the bank, total: 6,510,870 AMD,
- 286,036 AMD and 758 USD in the bank account,
- 3,000,000 AMD in cash,
- 4,000 EUR in cash,
- 25,000 USD in cash
- 11,533,363 AMD of income from salaries received and interest received for loans.
In 2020, the wife of the Governor of the Central Bank declared:
- Deposits in the bank, total: 4,586,208 AMD,
- 1,104,701 AMD in the bank account,
- 2,338 USD in a bank account,
- 3,000,000 AMD in cash,
- 4,500 EUR in cash,
- 25,000 USD in cash
- 12,312,759 AMD of income from salaries and interest received from loans.
In 2020, Astghik Ararktsyan declared:
- Deposits in the bank, total: 5,435,957 AMD,
- 283,600 AMD in the bank account,
1,028 USD in bank account
- 4,500,000 AMD in cash,
- 10,000 EUR in cash,
- 35,000 USD in cash
- 12,455,029 AMD income from salary.
