Thursday, September 20 2012 20:06

Central Bank of Armenia forecasts 10-12% growth of inflow of individuals' non-commercial transfers against formerly supposed 9-12%


ArmInfo. The Central Bank of Armenia (CBA) has slightly adjusted the forecast for the growth of inflow of individuals' non-commercial transfers. The CBA monetary policy program for Q3 2012 says that in 2012 the net inflow of non-commercial transfers of individuals will grow by 10-12% against the formerly supposed 9-12%.

In 2013 the net inflow growth rates will decelerate to 9-11% due to the revision of forecasts on Russia's economic growth. By the June forecast of the IMF, Russia will complete the year 2012 with 4% economic growth.

According to CBA, the inflow of private non-commercial transfers via the banking system of Armenia in the first half of 2012 amounted to $664.5 mln, having increased by 8.2% as compared with the same period of 2011. In the meantime, the outflow of the private transfers from Armenia in Jan-June 2012 versus Jan- June 2011 rose by 9.2% to $131.9 mln. As a result, the net inflow of private transfers to Armenia totaled $532.6 mln by late June 2012, having increased by 8% versus the same period of 2011. Most of the transfers were from Russia - 83%. The following countries rank next: the USA - 5.3%, Ukraine - 1.3%, Kazakhstan - 1.2%, France - 0.8% and Germany - 0.8%.
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