Georgia sees increase in remittances
BAKU, Azerbaijan, Sept.29
By Tamilla Mammadova – Trend:
Remittances to Georgia increased by 17 percent during the week of September 14-20, Trend reports with reference to TBC Research Group at Georgian TBC Bank.
According to the document, cash inflows from Azerbaijan and Ukraine continue to grow. Also, inflows from Armenia and North America maintain a high growth rate as well.
Remittances from Azerbaijan increased by 289 percent in the week of September 31-6. On September 7-13, money transfers increased by 204 percent, while remittances from Azerbaijan increased by 253 percent in the period from September 14-20.
In the case of Ukraine, remittances increased by 341 percent last week.
The growth rate of inflows from Russia is still negative and reduced by 16 percent by September 14-20.
The growth of cash inflows from the EU and the UK continues to maintain a double-digit growth rate. The rate increased by 27 percent for September 7-13 and by 26 percent for September 14-20.
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