Chairman of the Central Bank Artur Javadyan said Wednesday, June 19 that Armenia will soon start producing gold bars.

Addressing a government meeting Wednesday, Javadyan revealed that a factory will be established, and that all the equipment has already been purchased.

“We are working with a prestigious Swiss company. A factory will open to enable our gold producers to export 80-90% bars,” the head of the Central Bank said.

“We will also get to buy gold in our national currency, as foreign currency poses risks.”