YEREVAN, September 5. /ARKA/. Private transfers to Armenia through the country’s banking system amounted to over $194.7 million in July, an increase of 18.6% compared to the month before, the Central Bank of Armenia says on its website.
Compared to July 2013, the private transfers fell by 4.42% in the reporting month.
Transfers from Armenia amounted to about $30.2 million against $26.3 million in July 2013, an increase of 4.3% over the month. Net inflow was about $164.5 million in the period compared to about $177.4 million in July 2013 (21.6% increase over the month).
The bulk of transfers to Armenia, about 86.6%, are from Russia. Money transfers from Russia to Armenia amounted to about $168.7 million in July (25.2% increase over the month); transfers from Armenia to Russia were $17mln (4.4% increase).
According to the Central Bank, transfers to Armenia totaled about $1,869.7 million or about 17.3% of GDP in 2013. ($1=410.15drams). –0–
