From 7 to September 13, 2020, Georgia's total volume of remittances increased by 12% on an annualized basis, the TBC Capital weekly review reads.
Under the document, money transfers to Georgia from Azerbaijan and Ukraine show high growth rates. Transfers from Armenia and North America also retain high rates.
The remittances from Azerbaijan to Georgia increased by 204% in annual terms in the reporting period.
From August 31 to September 6, 289% more money transfers were sent from Azerbaijan than in the same period last year.
From September 7 to 13, the growth rate of remittances from Ukraine to Georgia increased by 222% in annual terms.
The growth rate of cash flows from Russia remains negative (-17%).
Remittances from the EU and the UK keep positive dynamics (27%)
The growth rate of cash flows from the Middle East (including Turkey) turned negative (-8%).
Bela Gelashvili
News Author