Monday, June 14 2010 14:18

Central Bank of Armenia: private money transfers to grow 10%-15% in 2010


ArmInfo. Private money transfers in Armenia will grow 10%-15% in 2010, says the Armenian Central Bank's monetary policy program for Q2 2010.

Thus, the expected growth of transfers is based on the positive forecasts of economic situation in Russia (the IMF new forecast ups economic growth in Russia for 2010 by 0.4 pp to 4%). The Central Bank's data say private transfers to Armenia via the local commercial banks and money transfer organizations amounted to 102 billion drams (US$255 million) for Q1 2010 growing 18% versus the same period of 2009. Privates transfers from Armenia totaled 53 billion drams (US$132 million) with 22% growth versus Q 1 2009. In fact, net flow of transfers totaled 49 billion drams and exceeded the indicator for Q1 2009 by 6 billion drams.
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