PRIVATE REMITTANCES TO ARMENIA TOTALED $261.7MLN IN FIRST QUARTER OF 2010

PanARMENIAN.Net
May 10, 2010 – 18:21 AMT 13:21 GMT

$261.7mln was transferred to individuals through the Armenian banking
system in January-March 2010. According to the RA Central Bank’s
monthly bulletin, 0.03% or $86,000 drop was recorded as compared with
the same period of last year.

Meanwhile, Russia keeps the biggest share of remittances to Armenia –
$162.8mln, followed by the US – $29.5mln and Germany – $4.7mln. The
amount of remittances from Turkey amounted to $665,000.

Besides, the amount of remittances from Armenia totaled $138.6mln in
January-March 2009 that is 5.4% higher as compared with the same period
of 2009. During the reported period, the net cash inflow decreased
by 5.5% amounting to $123.1mln against $130.3mln in January-March 2009.