YEREVAN, February 1. /ARKA/. Net inflow of personal remittances to Armenia in 2022 amounted to a record $2.5bn, Central Bank Chairman Martin Galstyan said Tuesday.
He said the bulk of remittances- about 70%- came from Russia. It was followed by the U.S.
The World Bank has ranked Armenia, along with Tajikistan and Kyrgyzstan, among the leading countries in terms of the ratio of remittances to GDP.
According to the WB report ‘Remittances Brave Global Headwinds”, the ratio in Armenia is 18.9%. According to the report, an unexpected and strong appreciation of the Russian ruble translated into higher value, in U.S. dollar terms, of outward remittances to Central Asia and the Southern Caucasus countries. -0-
