About Civil.ge
Eng | Geo | Rus
Last updated: 17:56 - 27 Apr.'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
27 Apr.'17 17:56
Foreign Ministers Open German-Georgian Year
Mikheil Janelidze met his German counterpart Sigmar Gabriel at the Federal Foreign Office in Berlin.
27 Apr.'17 16:14
Georgia, Romania Agree to Boost Trade, Political Ties
Prime Ministers issued a Declaration on the occasion of the 25th Anniversary of Diplomatic Relations.
26 Apr.'17 16:36
Tbilisi Concerned over Jerusalem Patriarch’s Abkhazia Statement
Georgian Ambassador to Israel meets Theophilos III, speaks about his meeting with Abkhaz pilgrims.
26 Apr.'17 13:18
South Ossetia Government Resigns
The region’s new leader Anatoly Bibilov will form a new government in two weeks.
26 Apr.'17 12:13
Watchdog Keeps Georgia’s Press Freedom Index Unchanged
Reporters Without Borders ranks Georgia 64th in the table of 180 countries with 27.76 points in the survey.
26 Apr.'17 10:29
Georgia Ratifies Europe’s Energy Community Accession Agreement
The Parliament of Georgia ratified the agreement with 89 MPs voting unanimously in favor.
25 Apr.'17 17:59
Georgian MoD Adopts Strategic Defense Review for 2017-2020
Defense Ministry considers Russia the primary threat, seeks to strengthen defense capabilities.
25 Apr.'17 14:33
Sokhumi Begins Issuing Residence Permits to Ethnic Georgians
Abkhaz authorities introduce new document for non-citizens for the term of five years.
25 Apr.'17 12:17
Georgian, Estonian FMs Discuss Upcoming Brussels EaP Summit
Estonian Foreign Minister Sven Mikser was on his official visit to Tbilisi on April 24.
24 Apr.'17 14:36
Georgia, Iran Mull Railway Connection
PM Giorgi Kvirikashvili paid a two-day official visit to the Islamic Republic of Iran on April 22-23.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
62