Money transfers to Armenia down 3.7 pct
YEREVAN – Money transferred to Armenian citizens from abroad made up about $1.1 billion in January-September 2010, or $43 million (3.7 percent) down in comparison with the same period of last year, the country’s central bank said.
People working abroad and relatives of Armenian citizens living in other countries sent the most money from Russia - $752 million, while $90.7m was wired from the United States, and $19.8m from the United Arab Emirates.
An average of $1.5bn is sent to Armenia every year.
For comparison’s sake, revenues of the South Caucasus republic’s budget stand at around $1.9bn.
Armenia’s budgetary expenses exceed revenues and make up $2.2bn.
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