Remittances to Armenia in Jan.-Sept. fall by 34.7 percent

18.11.2009 12:20
Remittances to Armenia in Jan.-Sept. fall by 34.7 percent

YEREVAN, November 18, /ARKA/. Remittances by Armenians abroad to relatives back home via banks in January-September 2009 fell by 34.7% or $418.5 million against the same period last year, to $786.5 million, according to the monthly bulletin of the central Bank of Armenia.

Non-commercial remittances to individuals in Armenia in September, 2009 made $114.1 million. In the same time span a total of $134.2 million were remitted from Armenia to other countries, down from $174.5 million from a year before.

Their amount fell by 23.1%. In September $19.5 million were transferred from Armenia to aboard. As a result the net inflow of money transfers to Armenia in January-September made $652.3 million, down from $1.030.5 billion in January-September, 2008. The decline amounted to 36.7%. The bulk of remittances-$561.1 million or 86% of all net remittances-arrived from Russia, down from 88% in the first nine months of 2009. ($1 – 387.48 Drams) -0-


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