Armenian Diaspora Investments Range From 60 To 70 Percent: Prime Minister
17.06.2011,
01:14
In an interview with CNN during a visit to Great Britain Armenian prime minister Tigran Sarkisian said Wednesday that the Armenian Diaspora is the primary source for the investment in Armenia’s economy.
YEREVAN, June 16. / ARKA /. In an interview with CNN during a visit to Great Britain Armenian prime minister Tigran Sarkisian said Wednesday that the Armenian Diaspora is the primary source for the investment in Armenia’s economy.
“Currently its share in the GDP can be estimated as high as from 60 to 70 percent. Of course, the investments from the Diaspora come not only in the form of foreign direct investments, but also as private remittances which have helped Armenia to overcome the consequences of the economic contraction,’ he said.
According to statistical data, the inflow of foreign investments into the real economy sector in January-March 2011 contracted by 19.5% year-on-year to $130.6 million (loans extended to government agencies and banking sector not included).
The largest foreign investors in the reporting period were France ($37.7 million), Russia ($23 million) and the United Kingdom ($ 21.7 million). These countries accounted for 28.9%, 17.6% and 16.6% of all foreign investments respectively. -0-
“Currently its share in the GDP can be estimated as high as from 60 to 70 percent. Of course, the investments from the Diaspora come not only in the form of foreign direct investments, but also as private remittances which have helped Armenia to overcome the consequences of the economic contraction,’ he said.
According to statistical data, the inflow of foreign investments into the real economy sector in January-March 2011 contracted by 19.5% year-on-year to $130.6 million (loans extended to government agencies and banking sector not included).
The largest foreign investors in the reporting period were France ($37.7 million), Russia ($23 million) and the United Kingdom ($ 21.7 million). These countries accounted for 28.9%, 17.6% and 16.6% of all foreign investments respectively. -0-
