Friday, 22 July 2011
No Upward Trends In Capital Flight
As Prime Minister Tigran Sargsyan stated at a meeting held with scholars in Oshakan, the government has clear understanding of capital flight from Armenia and does not see any adverse phenomena in this respect.
“We follow closely the capital flows and the trade balance of our country. The Central Bank performs these functions at a professional level. Of course, there are individual cases when Armenian entrepreneurs set up factories abroad while they make their earnings at home. On the other hand, abiding by a liberal economic policy, we cannot impose restrictions over the management of financial streams. We should remember that any businessman is supposed to diversify the risks and this is in the best interest of our country, as a whole. Should domestic entities manage to achieve diversified portfolios it would provide the country with economic stability,” Tigran Sargsyan pointed out.
The Prime Minister said to have met with those businessmen investing in Georgia: “No such cases were revealed as might imply lack of motivation. For instance, I have talked to such entrepreneurs who are building up a platform in Georgia for supply of pharmaceutical raw materials. They are expected to master the markets of regional countries in the long run. It seems to be clear that this is not dangerous to the country. It may be dangerous only if integral businesses are taken away from the country which is not the case at this point of time,” Tigran Sargsyan said.
With reference to educational problems, the head of government underscored the need for achieving higher level of graduate learning: “Unfortunately, our surveys show that there are dozens of universities administering diplomas instead of knowledge. This is a serious evil which must be addressed through reform.”
Note that the Prime Minister traveled today to Aragatsotni marz where he called at the upgraded passport bureau of Ashtarak and met with Armenian writers and intellectuals in Oshakan.
When in Oshakan, Tigran Sargsyan paid homage to Saint Mesrop Mashtots by laying flowers at his tomb.
