YEREVAN, June 2. /ARKA/. Individuals in Armenia received $95.9 million from abroad via banks in April 2015 for noncommecial purposes – 28% less than in April 2014, but 14.2% more than in March 2015, the Central Bank of Armenia reports on its website.
Money transfers from Armenia totaled about $26.8 million in April 2015 against $30.3 million in the same month a year before and net inflow amounted to $69.1 million against $102.9 million respectively.
Money transfers from Russia dominate the remittances coming to Armenia from the outside. They make up 73.4% of the counrty’s total remittances.
The inflow of transfers from Russia dwindled by 35% in April 2015, compared with the same month a year earlier, to about $70.4 million (18.6% month-on-month growth), and outflow from Armenia to Russia fell 10.2% over one year and 18.7% over one month to $16 million.
Money transfers to Armenia shrank 7.5% in 2014 to $1.73 billion or 15.7% of the country’s GDP.
Decline in individual transfers in 2014 was mainly due to the contraction in money transfers from Russia caused by the then devaluation of the Russian ruble, which had plunged 50% against the US dollar since the beginning of that year.
According to the central bank’s forecast, individual transfers will reduce 25% in 2015. ($1 – AMD 480.62). –0–
