YEREVAN, September 7. /ARKA/ .The positive dynamics of remittances sent to Armenia mostly by labor migrants is expected to continue to the end of 2017, which in turn will contribute to the growth of consumer and investment activity, the Eurasian Development Bank (EDB) said in its monthly survey.
According to the Central Bank of Armenia, the amount of private money transfers calculated in US dollars increased in July 2017 by 20.3% y / y after a 9.1% y / y growth a month earlier. In total, in January-June 2017, the amount of money transfers calculated in US dollars surged by 17% year-on-year, EDB said.
Overall, a total of $724.7 million worth private money transfers were sent to Armenia through banks in the first half of 2017, by $102.2 million more from a year before.
According to the Central Bank, in 2016 a total of $1.532.8 billion were remitted to Armenia (a 6% decline from 2015), and $816.9 million were remitted from Armenia to other countries (an increase of 7.3%). As a result, the net inflow of money transfers amounted to about $715.9 million (a 17% decline). -0-
