Thu, 24 July
27.1 C
Yerevan
USD: 383.74 RUB: 4.93 EUR: 450.05 GEL: 141.25 GBP: 521.81

Annual illicit financial flows from Armenia amount to $983 million

YEREVAN, December 11. /ARKA/. Armenia is 70th among 149 countries in Global Financial Integrity Organization’s ‘Illicit Financial Flows from Developing Countries: 2004-2013’ reports.

About $983 million is taken out of Armenia illegally.

According to the GFI organization, about $9.8 billion has been taken out of the country over one decade (Armenia’s GDP was $10.4 billion in 2014).

The illicit financial outflow has sharply intensified in Armenia in 2008, ahead of the recession. – $1.15 billion went out of the country (43.3% growth), but in 2009 it dwindled by 19.8%.

In 2010, illegal financial outflow started growing again and reached $1.8 billion in 2013.

As a whole, developing countries lose about $1 trillion every year because of shady financial outflow.

Over one decade under review, $7.8 trillion has slipped from these countries. The amount of illicit financial flows is growing every year by 6.5% – two times faster than these countries’ GDP.

About 80% of capital, i.e. more than $800 billion goes out of every year trough false declarations of cost of goods at customs.

China and Russia are topping the GFI ranking, since annual illicit financial flow from China averages $139.2 billion and that from Russia $104.9 billon with the $1 049.7 billion taken away illegally over ten years.

Along with China and Russia, Mexico, India and Malaysia are in top five with their $52.8 billion, $51 billion and $41.8 billion respectively.

Global Financial Integrity Global (GFI) is a non-profit, research and advocacy organization located in Washington, D.C..

GFI advocates and conducts research on national and multilateral policies, safeguards, and agreements aimed at curtailing illicit financial flows and enhancing global development and security. –0—–

spot_img

POPULAR

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

US dollar rises slightly against Armenian dram, euro and ruble fall

The average market exchange rate of the US dollar against the Armenian dram as of July 17, 2025, rose by 0.16 points compared to July 16 and amounted to 384.12 drams.

Viva Armenia CJSC bonds listed on Armenia Stock Exchange

The Armenia Stock Exchange (AMX) is pleased to welcome another major company to the capital market. Viva Armenia CJSC’s USD-denominated bonds will be listed on the Armenia Stock Exchange starting from 15 July.

Euro falls by 2.8 points against Armenian dram, meanwhile, US dollar and ruble decline slightly

As of July 16, 2025, the average market exchange rate of the U.S. dollar against the Armenian dram fell by 0.16 points compared to July 15, amounting to 383.96 drams.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

LATEST NEWS

spot_imgspot_imgspot_img