Russian currency slump discouraging for Armenian employment migrants

11:08 • 20.01.16
Economy

Many Armenians working as employment migrants in the Russian Federation are in a dilemma in the face of the Russian Ruble’s depreciation caused by the decline in the international oil prices.


Most complain that their family budget has been cut in half since 2014.


“My husband works in Russia, so our income is in the Ruble. While it traded for an exchange rate of 12 [Armenian] Drams in January exactly two years ago, today, banks purchase the Ruble for six Drams. So in the past two years, our family budget has been reduced twice. And also, everything is now expensive both here, in Armenia, and in Russia. The money sent proves to be enough for just keeping body and soul together, especially now that it is winter, and we you have to pay for the local utilities more than, for example, a month ago,” Rima Sukiasyan, whose husband has been a regular employment migrant in Russia in the past 10 years, told Tert.am.


The average exchange rate of the Russian Ruble was reported to be AMD 6.06 on Wednesday morning.


The situation appears to be similar in many rural communities, as the local authorities confirm.


Speaking to Tert.am, the mayor of the village Lichk (Gegharkunik region) said he finds that leaving is better than to stay even though the socio-economic conditions in Russia are almost the same as in Armenia. “They could bring flour, at least, to provide for their families; no job absolutely in the village,” Gnel Grigoryan said.


Norashen, another village in Gegharkunik, հas an estimated 30-40 residents known to be employment migrants. But the village’s mayor, Garnik Gasparyan, says most are inclined to return, especially under the current conditions. “Most of them come back somehow. I think this one sentence of mine is enough for you to understand what the situation is like, especially now that the Ruble depreciated,” he told our correspondent.

 

 

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