Money transfers in Georgia reach $88.6m in September

Georgia's Finance Minister believes the Lari will further stabilise as the country experiences an increase in tourism and exports. Photo by N. Alavidze/Agenda.ge

Agenda.ge, 19 Oct 2015 - 11:44, Tbilisi,Georgia

Georgia is experiencing less financial inflow from abroad.

The sum of money transfers coming into Georgia in September 2015 was 32.9 percent less year-on-year (y/y), official figures reveal.

National Bank of Georgia (NBG) published latest figures about remittances, which revealed the sum of money transfers from abroad constituted $88.6 million USD (212.5 million GEL) in September 2015. This was a $43.5 million USD reduction than in September 2014.

NBG said about 91.3 percent of all remittances from abroad came from 13 big donor countries, with the volume of transfers from each of these exceeding one million USD in September 2015.

In September 2014 the share of remittances from these 13 countries constituted 92.9 percent of the total volume of money transfers into Georgia.

Last month $13.8 million USD (33.1 million GEL) was transferred out of Georgia, while $14.9 million USD (25.9 million GEL) was sent out of the country in September 2014.