Thursday, November 6 2014 15:31
Because of the 11% devaluation of the Russian ruble to US dollar, the inflow of the non-commercial transfers of individual persons to Armenia reduced the growth rates from 8% to 0,4%.
Arminfo. Because of the 11% devaluation of the Russian ruble to US dollar, the inflow of the non-commercial transfers of individual persons to Armenia reduced the growth rates from the expected 8% to 0,4%, and amounted to $1.323 million in January-September 2014. This is conditioned by the lion's share of Russia in the money transfers to Armenia, press-service of Armenia's Central Bank reported.
The share of Russia in the money transfers to Armenia amounted to 83,4% for Jan-Sept 2014 versus 85,7% for the same period of 2013. The absolute value of the inflow from Russia dropped by 2,3% against the background of the growth of the outflow of transfers from Armenia to Russia by 11,4%. To compare, for Jan-Sept 2013 the inflow of transfers from Russia to Armenia grew by 11,3% against the background of growth of the outflow from Armenia to Russia by 14,1%. At the same period of 2012, the inflow of transfers from Russia to Armenia grew by 11,7%, against the background of growth of the outflow from Armenia to Russia by 12,5%. This lags behind the indices of the same period of 2011, when inflow from Russia grew by 25,8%, and outflow from Armenia to Russia - by 26,8%.
According to the monetary policy of Armenia's Central Bank for the 3Q 2014, it was for the third time that Central Bank reduced its forward guidance for the growth of the money transfers of individual persons for 2014 towards its slowing down. So, the growth of the private transfers for the current year will be 1-3% versus the earlier predicted 4,5-6,5%. Earlier Central Bank reduced the forward guidance of the growth of the money transfers of individual persons from 8-10% to 7-9%. The reduction of the forward guidance on the private transfers is conditioned by the expected slowing down of the GDP growth in Russia over the current year. According to the previous forward guidance of Russia's Central Bank, by the results of 2014, the GDP growth had to be 0,6%, but at present, this forward guidance was revised towards slowing down - to 0,4%.
According to the data of Armenia's Central Bank, the growth of the inflow of the non-commercial transfers of individual persons in 2013 was speed up to 11,3% versus 8,9% in 2012, in absolute terms, this indicator amounted to $1.5 billion. The inflow of private non-commercial transfers to the country amounted to $1.9 billion - by 10,8% more versus 2012, and the outflow grew by 10,9% - up to $324.2 million. Today 11 payment and account systems have been functioning in Armenia: MoneyGram, "Fast Post", BLIZKO, Avers, IntelExpress, InterExpress, Private Money, Sigue Money Transfer, TANDEM Transfers, and UNIStream and Anelik are the biggest actors.
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