Last year’s outflow of capital from Armenia amounted to $5.5 billion

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Economy

02.07.2010, 16:57

Artak Chilingarian, head of a department in the Armenian ministry of economy dealing with development of economic policy issues, said today last year’s outflow of capital from Armenia amounted to $5.5 billion, of which $.2.6 were net outflow.

YEREVAN, July 1, /ARKA/. Artak Chilingarian, head of a department in the Armenian ministry of economy dealing with development of economic policy issues, said today last year’s outflow of capital from Armenia amounted to $5.5 billion, of which $.2.6 were net outflow.

‘If we make calculations based on the difference between the volumes of imports and exports, the capital outflow is $4.9 billion,’ he said while addressing the 7-th CIS and Baltic Region Bond Congress in Yerevan.

He, however, said the improving economic stability draws substantial volumes of foreign investments
and ‘judging by the economic measures of the government their amount is set to increase.’

According to Armenian ministry of economy, foreign investments in Armenian economy in the first quarter of this year rose to $139 million from $522 million for the whole year of 2009 and $1.2 billion in 2008. -0-

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