Accessibility links

Breaking News

Armenian Economy Increasingly Reliant On Diaspora


The slaughter of Armenians in 1915 -- commemorated here at a ceremony in Marseille attended by the Artur Bagdasarian, the speaker of the Armenian parliament -- was one of the key factors in the emigration of Armenians from the Caucasus and Middle East (epa) August 10, 2006 -- Armenia's national bank says the country's economy is increasingly dependent on money sent home by its diaspora.


The bank said today that these remittances grew by 37 percent between 2003 and 2005 and now account for over 15 percent of Armenia's gross national product (GNP).


(AFP)

RFE/RL Caucasus Report

RFE/RL Caucasus Report


SUBSCRIBE For weekly news and in-depth analysis on Armenia, Azerbaijan, Georgia, and Russia's North Caucasus by e-mail, subscribe to "RFE/RL Caucasus Report."

RFE/RL has been declared an "undesirable organization" by the Russian government.

If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.

To find out more, click here.

XS
SM
MD
LG