About Civil.ge
Eng | Geo | Rus
Last updated: 21:10 - 4 May.'16
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
04 May.'16 21:10
Row Brewing Between GDDG MPs, President Over Supreme Court Nominations
President will not make “behind-the-scenes deals” over Supreme Court nominees, his adviser said.
03 May.'16 19:22
Georgia Votes Against Kosovo’s UEFA Membership
Kosovo became 55th member of UEFA after 28 of its members voted in favor.
03 May.'16 11:56
Geostat: Annual Inflation 3.2% in April
On a monthly basis, prices fell 0.6% in April, according to the state statistics office.
02 May.'16 19:23
PACE monitors to visit Georgia
Two co-rapporteurs from the Parliamentary Assembly of Council of Europe will visit Tbilisi on May 3-5.
30 Apr.'16 13:48
UNM Lays Out Rules for Compiling Its Party List of MP Candidates
Party list will be drawn up “based on principles and not based on anyone’s desires,” UNM’s Bakradze said.
29 Apr.'16 16:56
Opera Singer and His Potential Political Party in IRI-Commissioned Poll
Burchuladze’s movement was not too far behind from GDDG and UNM in a poll fielded in March.
28 Apr.'16 18:42
Geostat Releases Final Results of 2014 Census
Final results also include data on ethnicity and religious beliefs of country’s 3.71 million people.
28 Apr.'16 14:26
Five Men, Suspected of Trying to Sell Uranium, Arrested
The State Security Service said suspects were trying to sell 1.6kg of radioactive material for $3mln.
28 Apr.'16 11:49
Q1’16 GDP Growth 2.3% - Preliminary Data
Real GDP grew 3.4% y/y in March, after 0.8% and 2.6% growth in January and February, respectively.
27 Apr.'16 20:01
Bill Allowing PM to Run for MP Without Quitting Cabinet Post Passed in First Reading
Parliament passed amendment to the election code with 77 votes to 21 on Wednesday.

About Civil Georgia
Civil.Ge © 2001-2016, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
49