Mikael Melkumyan Responds to FIP's Publication on Transfers

Economist and member of the Prosperous Armenia Party (BHK), Mikael Melkumyan, has provided a reasoned rebuttal to the article published by the Fact-Checking Platform (FIP) regarding the figures mentioned by Gagik Tsarukyan. During a regional meeting, the BHK president stated that $150-180 million is transferred monthly from the Russian Federation to Armenia, while FIP claimed those figures were inaccurate, arguing that the money sent by migrants has not exceeded $40 million per month in the last 26 months.

In an interview with “Kentron,” Melkumyan stated that the Fact-Checking Platform made a serious error and misled the public with an unverified statement. He noted, “The professional assessment is that Mr. Tsarukyan is very correct, and actually understated the amount.”

As justification, he cited official data from the Central Bank, which states that $3.8 billion was transferred from Russia to Armenia in 2025. When this amount is divided by 12 months, it results in more than $300 million per month, part of which comes through banks, while a significant portion is in cash.

The economist also calculated the income of labor migrants, indicating that if about 120-130 thousand people earn an average of $1,250 per month, this results in a range of $150-160 million. He considered the discussions about $100 million per year to be absurd.

Regarding FIP's mention of a non-commercial net inflow of $18-40 million, Melkumyan deemed it ridiculous to suggest that someone making money in Russia should transfer it back. He also added that transfers can also be made on behalf of individuals who have the status of individual entrepreneurs.

Mikael Melkumyan stated that he is ready to debate with any expert and called on the platform not to mislead the public by basing publications on professional arguments.