Sun, 27 July
28.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Labor migrants started bringing more cash from Russia to Armenia – head of Central Bank

YEREVAN, March 18. /ARKA/. Armenian labor migrants in Russia have started bringing more cash than before, the head of the Central Bank Martin Galstyan said today.

“As for the remittances from Russia to Armenia, our early surveys showed that 80% were transferred through banks,” Galstyan said.

According to him, since there were problems with money transfers in Russia due to sanctions, (slept on it by the West), the share of cash has increased.

At the same time, the head of the regulator noted that, in general, fewer people started to go abroad for work finding instead work in Armenia.

He said that part of the surveyed labor migrants are not sure whether they are going to travel to Russia for seasonal work this year.

“We assume they will stay in Armenia and work here,” Galstyan said.

According to a report by the Central Bank, the net inflow of cross-border money transfers in Armenia through the banks amounted to $18.7 million in January 2025, compared to $32.8 million in January 2024. -0-

spot_img

POPULAR

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img