Infusion: Remittances on the rise during 2011

Statistics released Wednesday show that cash remittances to Armenia from abroad rose 23 percent in the first 10 months of this year, compared to the same 2010 time period.

Central Bank of Armenia recorded $1.24 billion in personal transfers, up from $1 billion. (Total transfers – including non-commercial – was up too, reaching $1.56 billion, compared to $1.27 billion the previous year's period.)

More than 80 percent of the incoming cash came from Russia, where hundreds of thousands of Armenians supply that country's migrant work force. The large Armenian-American Diaspora accounted for about five percent of the transfers.  Read more... (146 words)

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