Sharp decline in dollar transfers from Russia observed in Armenia

Baku. 22 August. REPORT.AZ/ There is a sharp decline in dollar transfers from Russia observed in Armenia, Report informs referring to the Armenian media.

According to the Central bank of Armenia, the decline in transfers from Russia in first 4 months of 2015 amounted to about 60 mln USD compared to the same period last year. But in June, the gap narrowed to 37 million dollars (85.8 vs 122.2 million USD).

Despite this, in III quarter of 2015 Central Bank of Armenia expects to reduce transfers in dollar terms by 25%.

In this regard, at the end of 2015 it is expected to reduce private spending by about 2.1%, while household consumption expenditure - by 1.6%.

Ruble to Armenian dram continues to fall from the end of June 2014.

All this indicates that labor migrants from Armenia continue to earn rubles, but it became more difficult to feed families, Armenia media reports.