33.9% INCREASE IN PRIVATE TRANSFERS TO ARMENIA IN JAN-AUG

ARKA
Oct 13, 2008

YEREVAN, October 13. /ARKA/. In January-August 2008, a total of
$1,035.3mln were transferred to Armenia for individuals by means of
Armenia’s banking system – an annual increase of $261.9mln or 33.9%.

In its monthly review for this August, the Central Bank of Armenia
(CBA) reports that a total of $152.6mln were transferred from Armenia
abroad against $173.9mln in the corresponding period last year (an
annual increase of 12.3%).

This January-August, the net inflow of funds amounted to $882.7mln
against $559.5mln – an annual increase of 47.2%.

The largest net inflow of funds was recorded from the Russia and the
USA – 90.8% of the total amount against 95.9% in the corresponding
period last year.

In 2007, a total of $1,319.5mln were transferred to Armenia for
individuals, with the net inflow of funds being $1,058.3mln.