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March 29
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YEREVAN. – The drop in private remittances sent to the Republic of Armenia (RA) from abroad is already taking on catastrophic rates, reported Haykakan Zhamanak daily.

“The net inflow of private remittances has fallen by nearly a half in August this year, as compared to August last year.

“According to the bulletin which the RA Central Bank issued yesterday [i.e. Thursday], the main ‘culprit’ in this reduction is Russia, the private remittances sent from where have decreased by more than two times in August.

“If this trend continues also in the coming months, it is beyond doubt that this will have catastrophic consequences on the socioeconomic life of our country,” wrote Haykakan Zhamanak.

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