NON-COMMERCIAL TRANSFERS FROM RUSSIA TOTAL $129.2MLN THROUGH ARMENIAN BANKING SYSTEM IN JAN-FEB

ARKA
April 21, 2008

YEREVAN, April 21. /ARKA/. $129.2mln of non-commercial means were
received for persons through Armenia’s banking system from Russia in
January-February, says the monthly information guidebook of the Central
Bank of Armenia (CBA) for February 2008. According to the statistics,
it is a 33.6% increase against the level recorded in January-February
2007 ($32.5mln).

Over the period, transfers from Armenia to Russia totaled $15.3mln
against $22.7mln in January-February 2007 (59.5% reduction).

As a result, net inflow of means from Russia was $113.9mln in
January-February against $74mln in the same period of 2007 (54%
increase).

In fact, the share of Russia in the overall volume of non-commercial
transfers for physical entities was 79.7% in case of transfers to
Armenia and 44.4% of transfers from Armenia. Russia constituted 89.2%
in the overall net inflow of means to Armenia in January-February. In
the same period of 2007 the indicators were 77.1%, 57.9% and 85.9%
respectively.

According to the CBA, physical entities received $162.2mln
non-commercial Drams through Armenian banking system in
January-February, which is a 29.4% increase against the same period of
2007. Transfers from Armenia to other countries totaled $34.5mln in the
period, which is a 12.2% reduction as compared with January-February
2007. Hence, net inflow totaled $127.7mln in January-February (48.4%
increase).

From: Emil Lazarian | Ararat NewsPress