News - World Bank: Remittances from Armenia to Russia drop but increase to the US

Remittances from Armenia decreased by 24.2 percent in February, remittances to Russia decreased, but remittances to the US increased. This is noted in the World Bank's monthly summary—for April—of Armenia's economic development. Accordingly, net remittances decreased by 63.3 percent in February, but exceeded the previous year’s indicator by almost four times. Remittance inflows decreased by 42.5 percent, which was due to a 53.5-percent decrease in inflows from Russia. Remittances also fell by 24.2 percent, and there was a 5.9-percent decrease in remittances to Russia. It is noteworthy that the remittances to the US increased by 139 percent.