YEREVAN, April 23. /ARKA/. Armenian economy will integrate with Russian markets and the volume of remittances will advance this year, VTB 24 President - Chairman of the Board, Mikhail Zadornov said.

“As of now, the situation enables us to make optimistic forecasts on the next one and a half year: Russian economy will grow by nearly 3.5-4 % this year. We consider this growth non-sufficient, but still not bad. Real income of population is increasing as well,” he said on Friday at the press conference.

Zadornov clarified that some part of population income in Armenia depends on money transfers from Russia and any crisis or, on the contrary, favorable situation may influence that income.

He also added that after recovering from crisis of 2008-2009, retail bankers learnt to develop the methods of checking borrows, that would guarantee protection from debt crisis in case of new crisis or deterioration of the situation.

According to the Central Bank of Armenia, remittances to Armenia from Russia in 2011 increased by 21.9 % to $1 295,2 million. Net cash flow from Russia though banking system of Armenia within the reported period advanced to nearly $1 153,8 million versus $945,3 million in 2010. So, remittances from Russian Federation made up 83.7 % of all transfers to individuals in Armenia. —0—