ARMENIA SEES 56.6% GROWTH IN PRIVATE MONEY TRANSFERS IN JULY 2008

ARKA
Sep 16, 2008

YEREVAN, September 16. /ARKA/. Private non-commercial money transfers
to Armenia increased by 56.6% in July, the Central Bank of Armenia
(CBA) reports.

The year-on-year growth of net inflow of non-commercial transfers
was 45.9%, with net outflow decreasing by 3.1%.

CBA formerly said it would review the forecast of non-commercial
transfers in the coming quarters if the inflow rates remained high.

According to CBA, first-half private transfers to Armenia totaled $6mln
686,540 with outflow amounting to $1mln 127,680. In January net inflow
totaled $5mln 558,860 against $3mln 786,720 in January-July 2007.