Sat, 25 October
13.1 C
Yerevan
USD: 383.05 RUB: 4.73 EUR: 444.80 GEL: 141.19 GBP: 510.03

Cash outflow from Armenia dwindles by 20% in 1st q 2012

YEREVAN, May 30. /ARKA/. Cash outflow from Armenia dwindled by 20% in the first quarter of this year, Tatul Manaseryan, an economist and the head of Alternative analysis center, said Wednesday in Novosti International Press Center.
“New trends of capital flight may emerge in the future, but now we see no grounds for it,” he said referring to experts’ data.

The Central Bank of Armenia says individuals in Armenia transferred $167 million abroad via the country’s banks in the 1st Q 2012 – 3.6% year-on-year growth.
Manaseryan said that the slowdown in cash outflow shouldn’t be taken as a reason for relaxation.
“It is necessary to improve investment environment to make it attractive for local investments,” he said.

If Armenia’s residents don’t invest money in own economy, he said, investments from the outside will be politicized.

“We are in need of mechanisms of effective utilization of local resources,” the expert said.
Earlier, Olivier Descamps, EBRD Managing Director for Turkey, Eastern Europe, Caucasus and Central Asia, said that investment climate in Armenia has improved a great deal thanks to the government-taken measures, such as expansion of the antitrust agency’s powers, simplification of business registration procedures and cooperation with SME. ($1 – AMD 406.75).  -0-

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img