Thursday, May 24 2012 20:20
In Jan-Feb 2012 inflow of private money transfers into Armenia totaled $169.6mln
ArmInfo. In Jan-Feb 2012 the inflow of private money transfers into Armenia totaled $169.6mln – 13.4% more than in Jan-Feb 2011.
The Central Bank of Armenia reports that the outflow of transfers from Armenia grew by 16.5% to $37.3mln.
As a result, the net inflow of transfers into Armenia made up $132.3mln – 12.6% more than a year before.
80.8% of the inflowing transfers were from Russia, 6.7% from the United States, 1.4% from Ukraine, 1.3% from Kazakhstan, 1% from France, 1% from Germany.
The inflow of transfers from Russia grew by 17.9% to $137mln, the inflow from the United States by 3% to $11.3mln, from France by 8.5% to $1.6mln, from Spain by 3.9% to $1.1mln.
In Jan-Dec 2011 the inflow of private transfers to Armenia amounted to $1.6 bln (19.6% y-o-y growth). In the meantime, the outflow of private transfers from Armenia grew by 13.3% to $264.6 mln. As a result, in Jan-Dec 2011 the net inflow of private transfers amounted to $1.3 bln (19.6% y-o-y growth).
To note, the Central Bank of Armenia expects the growth rates of individuals' money transfers to slow down. The program of the CBA's monetary policy for Q1 2012 says that in 2012 the growth of non- commercial transfers of individuals will be 9-12%. The CBA explains this deceleration in the growth rates in 2012 by the new forecast for economic growth in Russia in 2012. In particular, according to the IMF's forecasts, Russia will complete the year 2012 with 3.3% economic growth.
Today the private transfers of individuals in Armenia are carried out via more than 17 international money transfer systems, among them Contact, MoneyGram, Migom, Leader, Zolotaya Korona, Bystraya Pochta, BLIZKO, InterExpress, Private Money, and the biggest players of this segment are UNIStream and Anelik.
Expert: Electricity tariff containment in Armenia is only temporary
Political Scientist: Armenia`s withdrawal from Eurasian Economic Union (EAEU) to result in its dependence on Azerbaijani and Turkish markets
ATI.SU: Demand for international cargo transportation 30% up in Armenia
Civil Contract nominates Armen Ktoyan for Central Bank Board Member position
Armenia, France considering prospects for expanding technological cooperation