Crisis has not forced Armenian labor migrants to return back

YEREVAN, November 3, /ARKA/. Gagik Yeganian, chief of the Migration Agency, an affiliation of the Armenian Territorial Management Ministry, said today the global economic crisis has not forced Armenian labor migrants, the majority of whom are in Russia, to return back to their country.

He said earlier forecasts that the crisis would force Armenian migrants living and working for several years in foreign countries to return back to their country proved incorrect.

Gagik Yeganian said the predictions had been prompted by the worsening situation in Russia’s labor markets with millions of people losing their jobs in the first months of the year.

According to Gagik Yeganian, the majority of Armenian labor migrants have not lost their jobs ‘because two third of them rent homes and if they did not have jobs they could not rent homes.’

“From the psychological perspective, the crisis is to be over sometime and these people decided to wait until then,’ Yeganian said.-0-

spot_img

POPULAR

Unibank and Unisport took part in the “Tricolor” Yerevan Beat Run

Employees of Unibank and the Unisport club took part in the "Tricolor" Yerevan Beat Run.

Euro, dollar, and ruble exchange rates against the Armenian dram fell: Central Bank

The average market exchange rate for the US dollar against the Armenian dram, formed on the Armenian foreign exchange market as of June 24, 2026, fell by 0.15 points compared to June 23, to 367.93 drams.

Armenia expects to reduce public debt to 45% of GDP within five years: Deputy Finance Minister

The Armenian government aims to bring the public debt-to-GDP ratio to 45%, approximately within five years, stated Deputy Finance Minister Avag Avanesyan.

A 5 MW solar power plant was built in the village of Lanjar with the assistance of Acba Leasing

Lanjar Energy's 5 MW solar power plant with a capacity of 9 million kWh is located in the village of Lanjar in the Ararat region.

Euro fell 1.94 points against the Armenian dram, while the dollar and ruble remained unchanged: Central Bank of Armenia

The average market exchange rate for the US dollar against the Armenian dram, formed on the Armenian foreign exchange market as of June 23, 2026, increased by 0.01 points compared to 368.08 drams on June 22.

LATEST NEWS

spot_imgspot_imgspot_img