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Net inflow of Armenia's remittances down by 20% in 2015: report

Net inflow of Armenia's remittances down by 20% in 2015: report

PanARMENIAN.Net - Net inflow of foreign remittances, made by individuals and legal entities and received by individuals via Armenian commercial banks totaled $1,6 billion in 2015, against the over $2 billion of the previous year, the country's Central Bank said.

According to the report, the bulk of remittances – about 45,7 billion rubles or 46,3% of total money transfers to Armenia, which came as usual from Russia, were down by 5,7% against 2014.

The sum of 2015’s transfers in the national currency comes close to AMD 776,5 billion against the AMD 881,9 billion the previous year.

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“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
The funding will go to a subsidiary of ContourGlobal, an international power-generation company that acquired the Vorotan Cascade in 2015.
"We are yet unable to disclose the names of companies we are conducting negotiations with," Satenik Hovhannisyan said.
1,259,657 tourists have arrived in Armenia in January-December 2016, the National Statistical Service said, up by 5,7% on the year before.
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