Economic activity in Armenia fell from 10% to 5.2% in May.

Axar.az reports that this was stated in the monthly overview of the World Bank.

According to the bank, the Armenian dram fell by 6.3% against the Russian ruble in June.

"This is mainly due to the decrease in industrial production and trade volume. The growth in industry fell from 16.6% to 6.9%. The indicators, which were 27% in April, decreased to 11.5% in May," he said. the report states.

In addition, there was a decline in the trade sector, with figures falling from 27.2% in April to 17.6% a month later.

Money transfers also decreased by 44%. Transfers mainly from Russia decreased by 55%. It increased by 4% from the United States.

The bank recorded a slight increase in prices for the first time since October 2023. This was due to the price increase in the transport sector (10.8%).

Armenia's reserves continued to grow and in June increased by 126.6 million dollars and reached 3.34 billion dollars.