YEREVAN. - During 2010 transfers worth of $1 billion were made through Armenian banks and in 2011 the volume of transfers rose even more. According to official information in the first half of 2011 the transfer growth from Russia was 82 percent.

“During October, November and December the transfer growth again increased, compared to the same period of last year the growth increased twice,” the manager of ArmEconomBank’s Gyumri branch informed.

“At the same time, we must not expect improvement of crisis condition because of transfer growth, as jobs were created and the condition stabilized in other countries,” economist Arthur Arakelyan working in Gyumri city mentioned.