The money transfers received this week from Azerbaijan increased by 5% than in the same period in 2019.
The cash flow indicators from Ukraine and Azerbaijan increased by more than twice as compared to the same period in 2019, the weekly review of TBC Capital.
Following the document, high growth rates of cashflow remain from Armenia and North America.
The same rate in the case of Russia is still negative.
For the first time in four weeks, the growth rate of remittances from the East (including Turkey) is negative.
Cash flows from the EU and the UK have the largest share in the total cashflow.
In June 2020, the total volume of money transfers received in Georgia amounted to 169.2 million USD (514.8 million GEL), which is 17.8% or 25.6 million USD more than for the same period in 2019.
In the reporting month, remittances to Georgia mostly increased from Azerbaijan, while Russia remains the leader.
In June, 41.59% of the total remittance amounted to remittances from EU countries (70.38 million USD). Transfers mainly came from Italy, Greece, Germany, Spain, France, and Poland.
Bela Gelashvili
News Author