YEREVAN, May 8. / ARKA /. Some $125.6 million were remitted to Armenia via banks in March this year for individuals, an increase of 5.7% compared with March 2013, according to the Central Bank.
The amount of remittances was almost 20 percent higher from the previous month.
Remittances from Armenia to other countries amounted to about $31.2 million, up from $25.6 million in March 2013. The net cash inflow in 2014 March was about $94.45 million, slightly up from $93.16 million in 2013 March.
The bulk of remittances to Armenia – about 79 % of the total amount or $99.4 million (32% rise)– came from Russia. Remittances from Armenia to Russia amounted to $16.9 million (up 19.3%).
According to the Central Bank , $1.869.7 billion or approximately 17.3 % of the country’s GDP, were remitted to Armenia in 2013. ($ 1 – 414.84 drams). -0-
