ARMENIAN CENTRAL BANK: IN 2009 PRIVATE TRANSFERS TO ARMENIA TO DECREASE BY 30-35%

ArmInfo
2009-07-30 15:37:00

ArmInfo. The Central Bank of Armenia (CBA) forecasts 30-35% decrease
in the private transfers to Armenia in 2009, the program of the CBA
monetary policy for III qt 2009 says.

According to the CBA publication, the decrease will be conditioned
by the current and further economic situation in Russia.

The CBA data say that in 2008 the volume of private transfers to
Armenia via the banking system made up $1.6 bln, the annual growth
being 24%. The most part of the funds was transferred from Russia –
84%, or over $1.4 bln, this index being by 27% higher than in 2007. The
USA ranks next – $61 mln (3,7% of the total volume), this index being
by 20,4% lower than in 2007.