Armenia receives more money from Russia

In 2012, Armenia received more money from Russia in the form of

money transfers of individuals. In the first 10 months of this year

the country received more than $1.17 billion, while last year for

the same period it was $1.03 billion, the Central Bank of

Armenia says. The overall increase is estimated to be 13.6%.

Transfers from Armenia to Russia in January-October amounted to

about $131 million, with an increase of 15.5%.

Russia's share in the reporting period had 85.7% of total revenues in

Armenia in the name of individuals. In October alone, Russia

transferred more  than $158 million to Armenia, which is 11.6% more

than in September .

According to the CBA, the net cash inflow from Russia through the

banking system of Armenia in the first 10 months of the year amounted to more

than $1.04 billion compared with more than $918.4 million in

January-October 2011. The growth rate was 13.4%.