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

Euro and dollar rose against the Armenian dram, while the ruble weakened: Central Bank of Armenia

The average market exchange rate for the US dollar against the Armenian dram, formed on the Armenian foreign exchange market, increased by 0.36 points on November 2, 2026, compared to October 30, 2026, to 360.6 drams.

Dollar and ruble exchange rates rose, while the euro continued to decline: Central Bank of Armenia

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian foreign exchange market, increased by 0.05 points on October 27, 2026, compared to October 26, 2026, to 360.93 drams.

Central Bank of Armenia conducts currency interventions to prevent market turmoil – Galstyan

In the face of a significant influx of foreign capital, the Central Bank of Armenia periodically conducts currency interventions to prevent serious turmoil in the currency market.

Net inflow of remittances to Armenia from abroad almost doubled in 9 months

The net inflow of cross-border transfers to individuals in Armenia, received from abroad through the Armenian banking system, exceeded $2 billion in January-September 2026, compared to $1.02 billion in January-September 2025, according to a report from the Central Bank of the Republic.

Acba Bank at COP17: Solutions for Sustainable Agriculture

At COP17, Acba Bank participated in a panel discussion organized by the European Bank for Reconstruction and Development (EBRD) dedicated to the future of sustainable agriculture, long-term investments, and the need for environmentally responsible financing solutions.

LATEST NEWS

spot_imgspot_imgspot_img