YEREVAN, April 28, /ARKA/. Armenia’s Central Bank governor Arthur Javadian said today money transfers to Armenia surged by 25% in the first two months of 2011 if compared to the same time span of last year. The net inflow growth rate was 35%, he said to reporters after president Serzh Sargsyan’s meeting today with chief executive of local commercial banks.
Javadian described this trend as positive saying also the Central Bank hopes that the country will be able not only to preserve the macroeconomic stability but also make some progress in financial sector.
According to the Central Bank data, some $195.3 million worth individual money transfers arrived in Armenia in the first two months of 2010 via the banking system. According to the statistical numbers, the volume of remittances in Jan.-Feb. grew by 23.5% or about $37.1 million if compared with the first two months of 2010.
Money transfers from Armenia to other countries grew by 15% from a year earlier to $96.7 million (from $83.9 million in 2010 Jan.-Feb.). As a result the net inflow of remittances was $98.6 million, up from $74.2 million in 2010 Jan.-Feb. The growth was 32.8%. The largest portion of remittances- $102.8 million- arrived from Russia. -0-
