No outflow of capital from Armenia recorded - minister

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Economy

04.10.2016, 15:39

Armenia’s newly appointed finance minister Vardan Aramyan has refuted today media allegations that many local business people are moving their capital to neighboring countries.

No outflow of capital from Armenia recorded - minister

YEREVAN, October 4. /ARKA/. Armenia’s newly appointed finance minister Vardan Aramyan has refuted today media allegations that many local business people are moving their capital to neighboring countries.

According to him, the balance of payments is the best indicator to assess the outflow of capital. He added that for the moment the ministry has not received any evidence confirming these allegations.

He noted also that there is neither banking data confirming the rumors that Armenian businesses are moving outside the country. "If you check the financial sector and capital market performance, you can see that no large amounts of capital outflow has been recorded," Aramyan said. ($ 1 - 474.34 drams). -0-

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