YEREVAN, September 9. /ARKA /. Over $203.6 million were remitted to Armenia by individuals in July through banks, an increase of 16% compared to July 2012, the Central Bank of Armenia said in its monthly bulletin. It said private transfers jumped by 27 percent compared to the previous month of June.
In July 2013 the amount of money transfers from Armenia to other countries grew to $26.3 million from $22.8 million in July last year. The net cash inflow during the reporting month amounted to $177.3 million compared to approximately $152.7 million in 2012 July.
The vast majority of remittances came as usual from Russia - about 88.7 % of the total amount. In July this year they stood at $180.6 million compared to $155.5 million last year, while the amount of money transfers from Armenia to Russia rose to $14.4 million from $13.2 million.
The overall amount of remittances to Armenia in January- July 2013 amounted to approximately $942 million (up 12.1% from the year earlier), while the outflow from the country to about $175.9 million (up 13.7 %).
According to the Central Bank data, the amount of remittances in 2012 not only was restored, but also exceeded the pre-crisis level of 2008 by 3.1 % to $1. 687.2 billion, or about 17 % of the country's GDP. ($ 1 - 412.14 drams). -0-