YEREVAN. - According to the February review by the Central Bank of Armenia (CBA), a decrease in money transfers to Armenia has been recorded this year.

This February, individual money transfers to Armenia by means of the Armenian banking system totaled  $82.5 million against $119 million last February - a 30.6% decrease.

The decrease has been recorded in the amount of money transfers from almost all countries, with the largest decrease in transfers from Russia. Last January-February, money transfers from Russia totaled $90 million against about $64 million this January-February.  

The cause for this sharp decrease in money transfers remains unclear. The amount of transfers normally increases along with rising oil prices and, consequently, increasing incomes in Russia. The possible reason for the decrease in money transfers is a stricter migration policy in Russia. It is noteworthy,  that money transfers from other countries showed a decrease as well.

Specifically, money transfers from the United States totaled $6.1 million this January-February against $8.4 million last January-February.

Money transfers from Armenia showed a decrease as well. About $19.5 million were transferred from Armenia this January-February against $27 million last January-February.