YEREVAN, June 8. /ARKA/. Private remittances sent to Armenia in the first four months of 2016 via banks fell by 2.5% year-on-year to $377.7 million, the Central Bank of Armenia said in its monthly bulletin for April 2016.
Remittances sent to Armenia in 2016 April were 3.2% down from 2016 March and almost 9% less than in 2015 April.
Remittances from Armenia to other countries in the same time span surged by 9.4% to about $246.4 million. Thus, the net inflow of remittances in the first four months of this year amounted to approximately $131.2 million, a 19.2% drop from the same period of time last year.
Approximately 52.7% of all remittances came form the Russian Federation, down from 70-80% in previous years.
Remittances from Russia to Armenia in the first 4 months of 2016 dropped by 10.3% to about $199 million, while remittances from Armenia to the Russian Federation jumped by 40.7% to $113 million.
The overall amount of remittances to Armenia in 2015 decreased by 30% to $1.208.470 because of decline in Russian remittances caused by the huge depreciation of its ruble. -0-
