BAKU, Azerbaijan, Jan. 18
By Tamilla Mammadova – Trend:
The growth rate of remittances from Azerbaijan to Georgia has again become three-digit, Trend reports via the TBC Capital weekly economic review.
Cash inflows from Azerbaijan to Georgia in the period January 5-11, 2021, compared to the same period in 2020, increased by 209 percent, and in the period of January 1-7, the data shows a 530 percent increase.
Throughout 2020, the increase in cash flow was triple from this country to Georgia. The only exceptions were the few weeks of December and October when the increase in remittances from Azerbaijan to Georgia was a two-digit number.
In the last month of 2020, remittances to Georgia have increased from Azerbaijan.
According to the National Bank of Georgia, $5.79 million was transferred from Azerbaijan to Georgia in December 2020, which is 2.90 percent of December's total remittances. The annual growth rate of remittances from Azerbaijan in December was 160.14 percent.
As for the rest of the neighborhood, according to TBC Capital, cash inflows from Russia are in the negative range from January 5-11.
Remittances from the Middle East (including Turkey) increased by 44 percent between January 1-7 and 27 percent between January 5-11.
Overall, cash inflows increased by 17 percent between January 5-11, 2021, slightly lower than the previous week.
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