Wednesday, April 18 2012 22:00

Central Bank of Armenia forecasts deceleration in growth rates of individuals' money transfers


ArmInfo. The Central Bank of Armenia (CBA) forecasts deceleration in growth rates of individuals' money transfers. The program of the CBA's monetary policy for Q1 2012 says that the growth of non-commercial transfers of individuals will be 9-12% in 2012.

The CBA explains the deceleration of the growth rates of transfers by the new forecast of economic growth in Russia for 2012. In particular, according to the IMF's forecast, Russia will complete the year 2012 with 3.3% economic growth.

To note, earlier the CBA's program of monetary policy for Q4 2011 forecasted 11-13% increase in the inflow of non-commercial transfers of individuals to the republic for Jan-Sept 2012. To recall, Russia's share in the private transfers to Armenia is about 75-80%.
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