YEREVAN. – The Central Bank of Armenia has recorded that the amount of money transferred to Armenia has decreased by 24 percent in the fourth quarter of last year, as compared to 2013, Haykakan Zhamanak daily reported.

“At the same time, the remittances from Armenia to abroad have increased by about 5 percent in this period. In this case, [however,] this is about the total capital flow. This indicator illustrates the fact that, under the condition of a sharp drop in the foreign exchange inflow [into Armenia], its outflow has increased and it causes a “foreign exchange hunger” in the [country’s] financial system.

“According to the information received from the [Armenian] banking system, these trends have continued this year, too. This causes serious problems for Armenia’s banking system, and it may cause new shocks in the RA [Republic of Armenia] financial market,” Haykakan Zhamanak wrote.