Sun, 26 October
7.1 C
Yerevan
USD: 383.05 RUB: 4.73 EUR: 444.80 GEL: 141.19 GBP: 510.03

Remittances to Armenia in January–April 2025 remained at historic high of $1.8 billion, according to EDB

YEREVAN, June 24. /ARKA/. In January-April 2025, the inflow of cross-border remittances to Armenia increased by 6% year-on-year to $1.8 billion, maintaining its historic high, according to a Eurasian Development Bank’s macroeconomic forecast for seven participating countries for 2025-2027.

“About half of the growth was provided by remittances from the Russian Federation. At the same time, during the same period, the outflow increased by 11.4% year-on-year, mainly to Switzerland. The net inflow of non-commercial money transfers, which include transfers to households and transfers from migrant workers, increased by 24% year-on-year in January–March,” the macro forecast states.

It is noted that in 2022, 2023, and 2024, the inflow of cross-border money transfers from individuals to Armenia amounted to $5.1 billion, $5.6 billion, and $5.8 billion, respectively, compared to an average of $2 billion per year in 2019–2021. At the same time, the outflow intensified in 2023 and 2024. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

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

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

LATEST NEWS

spot_imgspot_imgspot_img