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-
