CBA: non-commercial transfer orders of the Armenian banks decreased for 30.5% during a year

France - 1.2%, Ukraine and Spain 0.6% each. The share of the other countries is insignificant.  According to the data published in the CBA monthly journal the annual recession is seen in the remittances from Armenia abroad - for 9.8% up to USD 150 million. Finally, the net inflow of the private transfer orders of the physical entities to Armenia made USD 387 million as of July 1 2015 decreasing for 36.2% in the annual breakdown.

 

According to the source, the annual drop of the total volume of remittances to Armenia was conditioned by the decrease of the inflow from all countries: Russia- for 36,4% - up to  $399.4 million.,  Germany - for 22,4% - up to $7.7 million., Kazakhstan - for 48,6% up to $7.1 million., France -  for 14,8% up to $6.6 million., Ukraine- for 44,8% up to $3.4 million., Spain- for 8,1% up to $3.1 million.,  UAE -for 44,2% up to $2.4 million.  The growth was note in the remittances coming from the USA - for 24.8% - up to $57.8 million.

 

Recession of the volume of the remittances from Armenia abroad is conditioned by the decrease of the remittance in all directions: to the US - for 17.2% up to $14.2 million, China - for 42.4% up to $3.6 

million, Ukraine - for 45.5% up to $3 million, Germany- for 30.3% up to $3 million, France- for 20.3% up to $2.7 million, UAE- for 34.9% up to $2.3 million some growth was noted only in the remittances to 

Russia - for 2.2% up to $96.8 million.

 

Finally, the lion share of the net inflow, i.e. 78.2% or $302.6 million was to Russia, which have recessed for 43.3% in the annual breakdown. The negative saldo on non-commercial bank remittances of the physical entities was noted in the transfer orders with China - $3.1 million and Turkey - $567 tnousand.

 

Eight payment and settlement systems were operating in Armenia as of July 1: MoneyGram, "Bystraya Pochta", BLIZKO, Avers, InterExpress, Private Money, and UNIStream and Anelik are the major players.  

Recently, very few banks in Armenia subscribed to the SMT and F5 systems.  According to the revised forecast of the CBA the remittances of the physical entities will decrease for 25% in 2015 (in annual breakdown) against the recession forecasted at 30%.