Money transfers to Armenia decreased by 40.4% in 2024, Minister of Finance Vahe Hovhannisyan said at the meeting of the parliament’s permanent commission on financial credit and budget issues, Report informs, citing local press.

The decrease in non-commercial transfers from Russia was the main reason for the decline. The volume of transfers from this country to Armenia amounted to 57%. Money transfers by individuals decreased by 33% during January-September.