Russians increased the volume of money transfers to Armenia by 42 percent
In the first eight months of 2023, Russians increased the volume of money transfers to Armenia by 42 percent. This is reported by TASS with reference to a statement by the country’s Minister of Economy Vahan Kerobyan.
The total volume of remittances from Russia to Armenia from January to August amounted to $2.7 billion, the head of the ministry specified, speaking in parliament.
At the same time, the total level of investment from the countries of the Eurasian Economic Union (EAEU) for the same period amounted to $305 million, the minister specified. The volume of transfers increased by 31.3 percent, to $3.8 billion.
An increase in transfers from Russia to Armenia was recorded in the first quarter of 2023. At that time, Russians transferred $1.2 billion to the country, which was five times higher than the same period in 2022. The size of transfers reached a record value in February, amounting to $600.9 million.
According to the VTB press service, Russians this year have become three times more likely to transfer money to friendly countries. At the same time, 90 percent of transfers accounted for operations with Belarus and Kazakhstan. The volume of transfers to Armenia in 2022 increased fourfold.
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