25% of Indian labor migrants left Armenia, CBA chief says

25% of labor migrants from India have left Armenia, Central Bank of Armenia (CBA) Chairman Martin Galstyan said on Tuesday.

The number includes both high and low-skilled workers.

"At the peak, there were 17,000 Indians in Armenia. Now they number 11,000,” Galstyan told a news conference.

Separately, he explained that the Central Bank’s decision to reduce the refinancing rate to 7.75% was necessary to ensure price stability and achieve the inflation target of 4%.