About Civil.ge
Eng | Geo | Rus
Last updated: 17:32 - 23 Mar.'17
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
23 Mar.'17 17:32
Foreign Minister Joins Ministerial Meeting against Terrorism
The Global Coalition meeting was hosted by the U.S. Secretary of State Rex Tillerson on March 22.
23 Mar.'17 16:05
Alliance of Conservatives & Reformists in Europe on Rustavi 2 TV Dispute
ACRE ‘believes’ Georgia will continue to uphold media plurality and media freedom in the country.
23 Mar.'17 14:05
Parliament Overrides Presidential Veto on Surveillance Bill
Lawmakers rejected presidential objections as ‘politically motivated.’
22 Mar.'17 16:55
On Nowruz, Georgian Leaders Reach Out to Azerbaijani Co-Citizens
Giorgi Margvelashvili and Giorgi Kvirikashvili visited Marneuli for Nowruz festivities.
22 Mar.'17 14:22
CoE Congress: Abkhazia, S. Ossetia Polls ‘Illegal’
Congress President Gudrun Mosler-Törnström issued a statement on March 21.
22 Mar.'17 13:08
Australia Rejects Abkhazia, S. Ossetia Polls
Australia supports Georgia’s sovereignty and territorial integrity, the country’s UN Ambassador said.
22 Mar.'17 12:19
Putin Meets South Ossetian Leader in Moscow
Leonid Tibilov and Vladimir Putin discuss upcoming elections, ‘security, defense capacity building.’
21 Mar.'17 17:06
Parliamentary Speaker Sketches Out Constitutional Changes
President to be elected indirectly, parliament by proportional contest.
20 Mar.'17 17:04
President Margvelashvili Vetoes Surveillance Bill
Says new oversight agency not independent, too costly.
20 Mar.'17 15:27
Four More Countries Reject Abkhazia Polls
Canada, Estonia, Finland and Lithuania denounced the March 12 Parliamentary Polls in breakaway region.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
17