Baku, Azerbaijan, May 17
Trend:
The growth of foreign transfers to Georgia has increased in the first four months of 2019; they reached about $ 516.7 million, according to the website of the National Bank of Georgia, Trend reports.
By the number of remittances, Russia, Italy, Greece, the USA, Israel and Turkey are leading the list.
Despite the fact that the largest amount of remittances falls on Russia, the total amount of the currency for the beginning of 2019 - about $129 million - is 7.5 percent less than in the same period last year.
As Paata Bairakhtari, Vice President of the Association of Young Financiers and Bankers, noted the fall in the ruble against the dollar is the main reason for the decline in remittances from Russia.
In the words of economic expert Akaki Tsomay, the growth of remittances from specific countries depends on the number of migrants who have moved there from Georgia. However, the growth of foreign transfers does not mean the prosperity of the country, he said. This rather suggests that more and more people are going abroad for earnings, which can not be called a positive phenomenon.
In April 2019, remittances amounted to more than $ 137.1 million.
There is also a decrease in transfers from Turkey. According to the expert, the reason for this is the currency crisis that occurred in this country in the summer of 2018.
From January to April 2019, about $ 71 million were transferred abroad from Georgia, which is 3.8 percent less than in the same period of 2018.