January 20
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YEREVAN. – The recent outflow of capital from Armenia was not so great; it’s about a few dozens of millions of US dollars.

Chairman of the Central Bank of Armenia (CBA), Arthur Javadyan, stated about the aforesaid at Wednesday’s National Assembly debates regarding the annual report on the CBA activities. 

Javadyan noted, however, that this “outflow” was actually premature termination of deposits as well as an outflow that could have been ordinary. 

 “It also includes remittances made by businessmen,” he added, in particular. “The businessmen made in late April also, the remittances which they could have done at the end of May. But, primarily, they are not connected with the outflow [of capital] from the country.”

The CBA chief noted that deposits were terminated in the past too.

“After May 10, deposits began to be restored at a very high pace,” he added. “At this moment, 70 percent of terminated deposits have been restored.”

Also, Arthur Javadyan stated that an increase in Armenia’s deposit base can be expected, and that the amount of loans in the country will also increase on that account.

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