Cash transfers from Russian citizens who have arrived in Armenia since the beginning of March have significantly increased. Obviously, this group of people translates and spends more here than the Armenian labor migrants from Russia are translated. According to the Armenian media, this was announced by Deputy Chairman of the Central Bank of Armenia Ovannes Khachatryan.
Khachatryan could not predict how long the Russians would “stay” in Armenia. If their stay in the country is long, then, as noted in the assessment of the Central Bank, we can expect an increase in Armenian GDP by 0.3–0.4% per year.
At the same time, the behavior of visiting Russians is more difficult to analyze, because this group of people is new for the economy of Armenia, without any story, on the basis of which forecasts could be made, the deputy chairman of the Central Bank emphasized.
Indirect data are also investigated: housing rental, employment contracts and so on. The latter indicator is optimistic, since many, opening a commercial enterprise here, conclude an agreement with the sample workers, Khachatryan noted.
“If they thought to stay for a short while, then they would have made out not to the omissive labor, but individual entrepreneurs. But we see the opposite,” the financier explained.