YEREVAN, May 4. /ARKA/. Private non-commercial money transfers to Armenia in the first quarter of 2021 surged  by about 47% as opposed to the same time span of 2020, according to Armen Nurbekyan, head of a central bank department of  macroeconomy.

Speaking at a news conference, he said that in March 2021 the money transfers grew by 145% compared to March 2020.

"In absolute terms,  the net inflow of money transfers in March 2021 amounted to $65.9 million, and to $129.1 million in the first quarter of the year," he said.

According to Alexey Kuznetsov, head of the Center for Country Analysis at  the Eurasian Development Bank, private money transfers to Armenia in 2021 are likely to grow by  5.6% on average, and by 5.1% in 2022 and 2023. -0-