{"id":133991,"date":"2021-06-15T19:28:39","date_gmt":"2021-06-15T19:28:39","guid":{"rendered":"https:\/\/armbanks.am\/2021\/06\/15\/249870\/"},"modified":"2024-12-15T13:44:39","modified_gmt":"2024-12-15T13:44:39","slug":"armenias-central-bank-expects-private-remittances-to-armenia-to-grow-this-year-by-15-17","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2021\/06\/15\/133991\/","title":{"rendered":"Armenia’s Central Bank expects private remittances to Armenia to grow this year by 15-17%"},"content":{"rendered":"\n

YEREVAN, June 15. \/ARKA\/. <\/strong>Armenia’s Central Bank expects the amount of private remittances sent to Armenia from Russia and other countries largely by labor migrants to grow this year by an average of 15-17%, Chairman of the Central Bank Martin Galstyan told reporters on Tuesday.<\/p>\n\n\n\n

He said the previous forecast was 7-9%. According to him, in the first months of 2021, the amount of private remittances was on the rise, reaching in some months more than 120%.<\/p>\n\n\n\n

He said during that period private remittances from USA, which has a vast Armenian community, saw a significant increase.<\/p>\n\n\n\n

“During the year, we expect also the remittances from the Russian Federation to show growth, as in March-April thousands of Armenian labor migrants traveled to Russia, which traditionally accounts for about 80% of all private money transfers sent to Armenia,” Galstyan said.<\/p>\n\n\n\n

He also noted that the volume of non-commercial money transfers in March increased by 145.6% and in April by 190%.<\/p>\n\n\n\n

The Executive Director of the Union of Banks of Armenia Seyran Sargsyan noted earlier that private money transfers to Armenia in the first quarter of 2021 increased by 14.7% or $52 million to $406 million.<\/p>\n\n\n\n

The bulk – about $154 million – came from Russia, which was followed by  the United States – $118 million, Kazakhstan – $13 million, Germany – $15 million and France – $12 million.<\/p>\n\n\n\n

Money transfers abroad from Armenia in the first quarter increased by 3.9% or $10 million to $277 million. Russia accounted for about $86 million, followed by the United States – $44 million. As a result, the net inflow of foreign exchange to Armenia in the first quarter amounted to $129 million. \u20130–<\/p>\n","protected":false},"excerpt":{"rendered":"

Armenia’s Central Bank expects the amount of private remittances sent to Armenia from Russia and other countries largely by labor migrants to grow this year by an average of 15-17%, Chairman of the Central Bank Martin Galstyan told reporters on Tuesday<\/p>\n","protected":false},"author":1,"featured_media":157415,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12315,9214,9216],"tags":[15837,15865,12301,308],"class_list":["post-133991","post","type-post","status-publish","format-standard","has-post-thumbnail","category-announces","category-banks-en-en","category-news","tag-armenia-2","tag-central-bank-2","tag-remittances","tag-308"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t