PRIVATE NON-COMMERCIAL TRANSFERS FROM RUSSIA TO ARMENIA TOTAL $87.8MLN IN JAN-FEB 2009

ARKA
Apr 6, 2009

YEREVAN, April 6. /ARKA/. Central Bank of Armenia says individuals
in Armenia received $87.8 million transferred from Russia in
January-February 2009 for non-commercial purposes.

Statistical reports say this result was 32% less than that in
January-February of previous year ($129.2mln).

According to the statistical report, $13.6 million was sent from
Armenia to Russia in Jan-Feb 2009 against $15.3 million in analogue
period of a year earlier (11.1% year-on-year reduction).

As a result, net inflow from Russia amounted to $74.2 million against
$113.9 million (34.8% year-on-year reduction).

Private transfers from Russia made 77.4% of the total non-commercial
inflow, and transfers from Armenia to Russia made 52.5% of all
outflows.

Russia’s share in net inflow made 84.8%.

In analogue period of 2008, the indicators were 79.6%, 44.4% and 89.2%
respectively.

According to the Central Bank of Armenia, private non-commercial
transfers to Armenia totaled $113.5 million in January-February 2009 –
30% less, compared with Jan-Feb 2008.

The report says $25.9 million was transferred from Armenia abroad –
24.9% reduction.

As a result, net inflow amounted to $87.6 million after 31.4%
reduction.