YEREVAN. – The Central Bank of Armenia has publicized the amount of remittances to the country from abroad in January, Zhoghovurd daily reported.

“Accordingly, the net inflow amounted to 28 million 23 thousand [US] dollars. Thus, the drop is about 60 percent; this indicator is the lowest since 2008.

“In January of last year, the net inflow of remittances to Armenia was 68 million 284 thousand dollars. As is known, about 90 percent of the remittances coming to Armenia come from Russia. In January last year, 87 million 243 thousand dollars were transferred to Armenia from the RF [i.e., the Russian Federation], whereas this year this amounted to 38 million 371 thousand dollars.

“If this dynamics of reduction of remittances continues, Armenia’s economy will be in the most dire straits,” Zhoghovurd wrote.