Haykakan Zhamanak: Remittances to Armenia continue to decline rapidly

Data of the Central Bank of Armenia shows that cash remittances sent from foreign countries to Armenia continue to decline rapidly, according to ‘Haykakan Zhamanak’ daily.

“In November of last year, remittances amounted to $68.4 million compared with $910 million in November 2014 (a 24% decline). Prior to that, in 2014, a 35% drop in remittances was reported compared with the previous year. So remittances have almost halved in two years,” the paper writes noting that such a low was not reported even during the 2008-2009 global economic crisis.