Remittances to Georgia exceed $50M

Business Materials 15 August 2019 18:02 (UTC +04:00)

Baku, Azerbaijan, August 15

By Tamilla Mammadova – Trend:

Remittances to Georgia amounted to $154.5 million in July 2019, which is 7 percent more than in July 2018, Trend reports with reference to National Bank of Georgia.

The remittances from the EU, US and Israel to the country increased, while the remittances from Russia decreased.

According to the bank, $38.98 million was transferred from Russia to Georgia, which is 9.36 percent less than in July 2018.

Remittances from EU countries to Georgia amounted to $59.05 million, which is 21.79 percent more than a year earlier. The volume of remittances from Italy amounted to $20.87 million (increase of 26.48 percent), from Greece - $16.96 million (increase of 13.33 percent), from Spain - $4.52 million (increase of 6.97 percent), from Germany - $4.36 million (increase of 24.31 percent), and from Poland - $2.95 million (increase of 64.92 percent).

As reported, 94 percent of remittances came to Georgia from 18 largest partner countries.