{"id":251360,"date":"2024-02-19T09:20:26","date_gmt":"2024-02-19T09:20:26","guid":{"rendered":"https:\/\/armbanks.am\/2024\/02\/19\/251360\/"},"modified":"2024-02-19T09:20:26","modified_gmt":"2024-02-19T09:20:26","slug":"remittance-inflow-to-armenia-to-drop-by-15-in-2024-economist","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2024\/02\/19\/251360\/","title":{"rendered":"Remittance inflow to Armenia to drop by 15% in 2024 &#8211; economist"},"content":{"rendered":"\n<p><strong>YEREVAN, February 19. \/ARKA\/.\u00a0<\/strong>Remittance\u00a0inflow to Armenia in 2024 is very likely to\u00a0\u00a0drop by\u00a0\u00a0about 15% from 2023, while the remittance outflow will continue to grow, economist Aghasi Tavadyan believes.<\/p>\n\n\n\n<p>&#8220;Aggregate bank remittances in 2023 registered a growth of 9.7%, compared to a substantial 2.5-fold increase in 2022. However, there is a sharp decline in bank money transfers from halfway through 2023. In 2023, the outflow of money through the banking system increased by 55% compared to 2022,&#8221; he wrote&nbsp;in a Facebook post.<\/p>\n\n\n\n<p>Tavadyan notes that in 2023, 69.3% of individuals&#8217; remittances through Armenia&#8217;s banks ($3,946 million) were from the Russian Federation, while 11.6% were from the United States ($663 million).&nbsp;<\/p>\n\n\n\n<p>&#8220;In 2023,&nbsp;some&nbsp;81.4% of remittances received from Russia were for non-commercial purposes,&#8221; he added.<\/p>\n\n\n\n<p>According to official data, in 2023 the inflow of private cross-border remittances amounted to $5.7 billion (+9.7% YoY), remaining at historically high levels. In 2022 their&nbsp;inflow amounted to $5.1 billion against $1.9 billion, on average, per year in 2018-2021.<\/p>\n\n\n\n<p>According to the Central Bank of Armenia,&nbsp;private remittances from Russia amounted to $3.94 billion versus $3.6 billion in 2022. Remittances from the United States dropped to&nbsp;$663.2 million from&nbsp;$670.9 million and remittances from Switzerland grew to&nbsp;$140.8 billion&nbsp;from&nbsp;$95.7 million.<\/p>\n\n\n\n<p>Remittances from Armenia to Russia grew to $641.4 million from&nbsp;$453 million in 2022,&nbsp;remittances to&nbsp;UAE surged to&nbsp;$571 million from $275.3 million, and remittances to&nbsp;the United States grew to&nbsp;$465 million from $327.8 million.<\/p>\n\n\n\n<p>Net cross-border remittance inflows&nbsp;in&nbsp;2023&nbsp;stood at&nbsp;$1.65 billion vs. $2.58 billion&nbsp;in&nbsp;2022. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Remittance\u00a0inflow to Armenia in 2024 is very likely to\u00a0\u00a0drop by\u00a0\u00a0about 15% from 2023, while the remittance outflow will continue to grow, economist Aghasi Tavadyan believes<\/p>\n","protected":false},"author":1,"featured_media":157567,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[],"class_list":{"0":"post-251360","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/251360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=251360"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/251360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157567"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=251360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=251360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=251360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}