YEREVAN. – The private remittances, which are transferred with the banking system to the Republic of Armenia (RA) from abroad, dropped by 32.8 percent this April, as compared to April of last year, reported Haykakan Zhamanak daily.

“Russia is the main ‘culprit’ in such a fall in private remittances. The greatest part of [money] transfer—around 85 percent—[to Armenia] usually comes from the RF [i.e. the Russian Federation].  

“According to official data released by the RA Central Bank, the net inflow of private transfers [made to Armenia] amounted to 198 million [US] dollars in the first 4 months of the year, instead of the 352.5 million dollars in the same period last year. In the meantime, the volume of private transfers that came from the RF have declined by more than two times, reaching 148.7 million dollars from 310 million dollars,” wrote Haykakan Zhamanak.