{"id":37413,"date":"2012-05-30T14:47:50","date_gmt":"2012-05-30T14:47:50","guid":{"rendered":"https:\/\/armbanks.am\/2012\/05\/30\/235633\/"},"modified":"2024-12-15T12:57:38","modified_gmt":"2024-12-15T12:57:38","slug":"cash-outflow-from-armenia-dwindles-by-20-in-1st-q-2012","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2012\/05\/30\/37413\/","title":{"rendered":"Cash outflow from Armenia dwindles by 20% in 1st q 2012"},"content":{"rendered":"<p><strong>YEREVAN, May 30. \/ARKA\/<\/strong>. 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.<br \/>\n\u201cNew trends of capital flight may emerge in the future, but now we see no grounds for it,\u201d he said referring to experts\u2019 data.<\/p>\n<p>The Central Bank of Armenia says individuals in Armenia transferred $167 million abroad via the country\u2019s banks in the 1st Q 2012 \u2013 3.6% year-on-year growth.<br \/>\nManaseryan said that the slowdown in cash outflow shouldn\u2019t be taken as a reason for relaxation.<br \/>\n\u201cIt is necessary to improve investment environment to make it attractive for local investments,\u201d he said.<\/p>\n<p>If Armenia\u2019s residents don\u2019t invest money in own economy, he said, investments from the outside will be politicized.<\/p>\n<p>\u201cWe are in need of mechanisms of effective utilization of local resources,\u201d the expert said.<br \/>\nEarlier, 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\u2019s powers, simplification of business registration procedures and cooperation with SME. 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