YEREVAN. – In January-February 2013, individuals in Armenia have remitted, by way of banks, $22.7 million to US and $40.1 million to Russia, the Central Bank of Armenia informs. But these remittances also include commercial purposes, and therefore they cannot be considered transfers. 

As compared to the year past, the remittances to the US increased by about 19 percent and, as a result, there is a negative balance between inflows and outflows with the US for the first time.

The remittances toward Russia rose by nearly 57.5 percent, but the inflows likewise grew considerably ($175 million).

Overall, close to $263 million were transferred to, whereas $127 million were transferred from, Armenia in the first two months of this year.