Transfers from Russia to Armenia to keep the same growth rates – IMF projection

Transfers from Russia to Armenia to keep the same growth rates – IMF projection

YEREVAN, March 25. /ARKA/. Head of IMF Staff Mission to Armenia Mark Horton is expecting high growth rates of money transfers from Russia to Armenia to remain unchanged.

Armenians are holding jobs requiring quite high qualifications in the Russian labor market, Horton told a press conference Monday.

Horton said Armenia’s accession to Russia-led Customs Union will help Armenian labor migrants maintain their positions amid toughening of the Russian migration laws.

According to the Central Bank, private remittances from Russia to Armenia through the banking system rose by 11.1% to about $1,606.6 million over 2013.

Armenia’s state migration service says about 700-800 thousand labor migrants and their families live currently in Russia. –0--

11:18 25.03.2014

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