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Remittances from Azerbaijan to Georgia show highest growth rate

Finance Materials 27 February 2021 11:06 (UTC +04:00)
Remittances from Azerbaijan to Georgia show highest growth rate

BAKU, Azerbaijan, Feb.27

By Tamilla Mammadova – Trend:

The growth rate of remittances to Georgia through TBC channels in the third week of February 2021 is positive but relatively low, Trend reports via the updated economic review of TBC Capital.

The growth of cash inflows through TBC channels slowed down slightly compared to the previous week.

Last week, remittances to Georgia from Azerbaijan showed the highest growth rates. Cash flows transferredin the period of February 8-14, 2021 compared to the same period in 2020, has increased by 130 percent, and in the period of 15-21 February 2021, the annual increase in remittances from this country resulted in 141 percent.

On February 8-14 of this year, remittances from Armenia to Georgia increased by 107 percent compared to the same period in 2020, and in the period of February 15-21, 2021, the dynamics of remittances from Armenia to Georgia increased by 49 percent in annual terms.

Remittances from Central Asia, as well as from Russia, fell last week. The growth of remittances from the EU, Great Britain, and North America maintains positive dynamics, although it is low compared to the previous week.

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