YEREVAN, June 28. /ARKA/. Noncommercial net money transfers to Armenia contracted by 34 percent (yoy) in April 2024, driven by a 26 percent decline in inflows, the World Bank says in its Armenia monthly economic update – June 2024 report
According to ir, money transfer inflows from Russia dropped by 50 percent in April (yoy), which explains most of the contraction, while inflows from the US grew by 14 percent (yoy) .
Total outflows of money transfers declined by 10 percent (yoy) in April, particularly those to the Russian Federation (-3 percent, yoy) and ‘other countries’ (-22 percent, yoy) . Outflows to the US grew by 10 percent (yoy) in April.-0-.
