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168 ZHAM: TRANSFER-DEPENDENT ARMENIAN ECONOMY IN PANIC
10:42 * 11.12.14
Armenia's economy, which is heavily dependent on foreign transfers,
is now in a state of panic amid the national currency's sharp decline.
While many today blame the Central Bank for the fluctuations on
the currency market, the problem appears to have deeper roots than
thought, the paper says, noting that most of the transfers come from
the Russian Federation.
"We rely on money coming from abroad, first of all from the Armenians
residing and working in Russia. We feel sad and worry every time over
the decreasing sent. But we never actuallt worry at all that we have
ceded our biggest resource, the human being to foreign [powers],"
writes the paper.
Citing the most recent statistics, the paper says that private
transfers accounted for 21% of Armenia's Gross Domestic Product
in 2013.
http://www.tert.am/en/news/2014/12/11/armenia-transfers/1532689
10:42 * 11.12.14
Armenia's economy, which is heavily dependent on foreign transfers,
is now in a state of panic amid the national currency's sharp decline.
While many today blame the Central Bank for the fluctuations on
the currency market, the problem appears to have deeper roots than
thought, the paper says, noting that most of the transfers come from
the Russian Federation.
"We rely on money coming from abroad, first of all from the Armenians
residing and working in Russia. We feel sad and worry every time over
the decreasing sent. But we never actuallt worry at all that we have
ceded our biggest resource, the human being to foreign [powers],"
writes the paper.
Citing the most recent statistics, the paper says that private
transfers accounted for 21% of Armenia's Gross Domestic Product
in 2013.
http://www.tert.am/en/news/2014/12/11/armenia-transfers/1532689