YEREVAN, November 19. /ARKA/. Armenia conducts its monetary, credit and budget policy bearing in mind not only its own frontiers, but also those of the “Armenian world” (Armenian worldwide communities), the republic’s head of the government Tigran Sargsyan said Friday at the meeting with the Chief editors club of CIS, Baltic states and Georgia.

“Armenianhood is a living organism. There are just 3 million Armenians living in Armenia, and nearly 10 million, who live worldwide and identify themselves as the Armenians. This is a single organism that lives within its own single rules, and private remittances getting to and out of Armenia prove the organism is alive, it has blood vessels,” he said.

In reference to this, Armenian premier reminded that during the default in Russia money transfers from Russia to Armenia sharply tumbled, whereas from Armenia to Russia- significantly rose.

“People from Armenia started supporting their relatives in Russia, who had lost their income and savings, and at the same time, during the same years we saw private transfers from the USA to Armenia had climbed 10 times. Thus, the live organism is working in balance,” he clarified.

According to Armenia’s head of government, after the Russian default the Armenian authorities realized it was impossible to conduct monetary and credit policy within Armenia’s own frontiers, as the financial flow goes out of our state, “ and its volume is significant.”

“It means the Armenian world prevails over Armenia from the angle of the economic interests,” he highlighted.

According to the Central Bank of Armenia, monetary transfers sent to individuals for non-commercial purposes in January-September 2012 totaled over $1.2 billion in Armenia, which was 8.6% higher from the same period a year earlier. Transfers from Armenia to foreign counties valued at $203.7 million versus $190.6 within the reported period (6.8% growth). Throughout Jan-September 2012 the net inflows totaled nearly $982.9 million from 2011’s $901.8 million (9% growth).

The highest net inflow in January-September 2012 was reported to be from Russia (over $899.7 million) like at the same period a year earlier.—0-