Epress.am News from Armenia
The volume of international money transfers to Armenian individuals has fallen to its lowest level since 2007: in 2015, the net inflow of non-commercial remittances amounted to $891 million 390 thousand, as opposed to the $1 billion 58 million 310 thousand of the year of 2007, Zhoghovurd daily reports.
“The remittances had been growing steadily since 2007. In 2009, naturally, transfer volumes reduced again due to the international financial crisis, amounting to $929 million 235 thousand. In subsequent years, however, the numbers started to rise again.
“Essentially, it can safely be stated that Armenia's economy is currently in a worse state than it was during the international financial crisis,” the daily notes.