The Armenian-Azerbaijani war had a negative impact on remittances to Georgia only when it comes to Armenia, remittances from Azerbaijan to Georgia are still growing.
Cash inflows from Azerbaijan and Ukraine have been growing strong in Georgia over the past week. The annual change in inflows from Armenia is negative for the second week in a row.
The weekly review of TBC Capital reveals the numbers.
According to the organization, the growth rate of inflows from Russia is still negative. The growth rate of inflows from Middle Eastern countries (including Turkey) is negative again between September 20-26.
In the last week of September, remittances in the country increased by 15%.
The position of conflict specialists, economists, and financiers on the Azerbaijan-Armenia conflict are similar. They say the conflict between the two countries will have a significant impact on the region's economy. The economical price of this conflict depends directly on its persistence, time, and scale.
