About Civil.ge
Eng | Geo | Rus
Last updated: 16:28 - 24 Oct.'14
 
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
24 Oct.'14 16:28
Mokhe Incident Detainees Released as Govt Slammed for Mishandling Dispute
The Orthodox Church has publicly weighed in controversy, claiming right over disputed building.
24 Oct.'14 12:29
U.S. Department of State on Prosecutions of Former Govt Officials in Georgia
Concerns remain about how some cases have been handled, U.S. Department of State said.
23 Oct.'14 16:51
Abkhaz Leader Makes TV Address on Moscow-Proposed Treaty
Russia does not try to impose its proposed draft treaty, Raul Khajimba said.
23 Oct.'14 02:39
Once Mosque, Disputed Half-Ruined Building Sparks Confrontation
14 people were arrested after the incident in the village of Mokhe on October 22.
22 Oct.'14 23:48
Lithuanian FM Visits Tbilisi
Linas Linkevičius arrived in Tbilisi after visiting Azerbaijan.
22 Oct.'14 16:05
Akhalaia Sentenced to 7.5 Years in Prison
Court found ex-prison chief guilty of power abuse and torture in two separate cases.
22 Oct.'14 14:10
Top NATO Commander: ‘Partnership with Georgia Rock Solid’
NATO’s Supreme Allied Commander in Europe met Georgian PM, Defense Minister.
21 Oct.'14 23:52
After Series of Murders of Women, Govt Mulls Anti-Domestic Violence Policy
A murder-suicide case in Tbilisi university pushed the problem in the center of public attention.
21 Oct.'14 18:05
Top NATO Commander Visits Georgia
Gen. Breedlove, commander of U.S. forces in Europe, will meet Georgian leadership on October 22.
21 Oct.'14 11:08
Moscow Says Tbilisi’s Allegations on Abkhaz Annexation ‘Dangerous Speculation’
Georgia’s claims can seriously mar Geneva talks, the Russian Foreign Ministry said.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
73