YEREVAN, September 4. /ARKA/.There is no tendency in 40% foreign investments drop in Armenia, Economy Minister Tigran Davtyan told journalists on Tuesday.
According to the National Statistical Service of Armenia, investments in Armenia slashed by 40% to nearly $266 million in the first half of 2012 from a year earlier.
“This tumble in investments appeared as we finished implementation of some major programs. For example, last year we modernized Zvartnots airport, also last year we implemented investments of several telecommunication companies. It means that there is no tendency, just programs have their terms,” Mr. Davtyan said.
According to him, Armenia has a small market and territory, that is why a couple of investment programs may significantly change the image. Mr. Davtyan also expressed his hope that last year’s foreign investments volume will remain the same as the other programs are implemented.
The foreign direct investments slashed by 60% to $147 million within the reported period. Armenia reported such a significant drop in investments flow after the crisis, especially within the second quarter of this year. However, during the first three months of 2012 investment flow was higher than that of 2011. -0-