About Civil.ge
Eng | Geo | Rus
Last updated: 17:35 - 1 Sep.'15
 
RSS
Mobile
Twitter
Facebook
Money Transfers from Abroad Decline
Civil Georgia, Tbilisi / 17 Feb.'09 / 16:25

Money transferred from abroad to Georgia reduced to USD 51.2 million in January, 2009, a 12.5% decline on the same period of last year, the National Bank of Georgia (NBG) said on February 16.

The last time when decline in the figure for the first month of year was reported was in 2001.
 
The reduction is mainly attributed to the decline of remittances from Russia – a largest source of remittances for Georgia. In January, 2009, money transfers from Russia went down to USD 27 million from USD 35.6 million last January.

Money transfers from abroad amounted to slightly over USD 1 billion in 2008, against USD 866.1 million in 2007.

A joint policy paper by Open Society-Georgia Foundation and Economic Policy Research Center on Georgia’s economic challenges, released last week, warned that remittances were expected to decline this year because of the world financial crisis. It said that the trend would create “a heavy burden” for people, national currency and the banking sector.

Latest News
01 Sep.'15 17:35
Georgia Finalizes Deal on Nenskra Hydropower Project
Govt, South Korea’s K-Water and Italian builder Salini Impregilo signed contracts in Tbilisi on August 31.
01 Sep.'15 11:18
New Foreign, Economic Ministers Appointed
Kvirikashvili, who was economy minister since late 2012, became new foreign minister.
31 Aug.'15 18:24
‘Worrying Trend’ – President Says After Imedi TV Suspends Political Talk Shows
President is watching closely processes ongoing in Georgian media, president’s office said in a statement.
31 Aug.'15 15:37
CEC Sets Date for MP By-Elections
Majoritarian MP by-elections in Martvili and Sagarejo will be held on October 31.
31 Aug.'15 13:22
GD Names Candidates for MP By-Elections
Two vacant majoritarian MP seats are for grabs in by-elections boycotted by 13 opposition parties.
31 Aug.'15 11:54
July GDP Growth 3% – Preliminary Data
Economy grew 2.6% y/y in the first seven months of this year, according to Geostat.
30 Aug.'15 20:55
Imedi TV Suspends Political Talk Shows
A host of the suspended talk-shows claims political meddling from the authorities.
29 Aug.'15 15:08
Police Say 30 People in Samtskhe-Javakheti Voluntarily Turn in Munitions
8,041 bullets; 77 grenades, and 400 grams of TNT were among munitions handed over to local police.
28 Aug.'15 14:35
ADB Approves USD 20m Loan for Batumi Coastline Protection
The loan will be used to fund works to protect Black Sea resort’s 5km coastline from erosion.
28 Aug.'15 13:09
Parliament Speaker Says NATO Has to Bring Clarity over MAP
Usupashvili said Membership Action Plan should not be an issue of “political speculation”.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
60