Georgia receives over $100m in remittances:
Russia, US, Greece are top donors in September 2016

Higher prices for vegetables contributed to a 0.9% increase in the cost of food and non-alcoholic beverages month-on-month, noted Geostat. Photo by N. Alavidze/, 13 Oct 2016 - 16:22, Tbilisi,Georgia

Georgia is receiving more money from abroad and mostly from its three major donor countries – Russia, the United States (US) and Greece.

Last month Russia transferred $34.9 million to Georgia, which was 34.9 percent of all money transfers made to Georgia in the month.

Georgia's second largest donor was the US with $12.2 million in money transfers, followed by Greece, who transferred $10.8 million.

Overall Georgia received $100.2 million from abroad in September 2016. This was 13.1 percent more year-on-year (y/y), said the National Bank of Georgia (NBG).

The Bank said the vast majority (90.5 percent) of all money transfers from abroad came from 11 major donors. 

Meanwhile after Russia, the US and Greece, Georgia's other big donor countries in September 2016 were:

  • Italy - $10 million 
  • Turkey - $7.4 million
  • Israel - $5.8 million
  • Germany - $2.5 million
  • Spain - $2.4 million
  • Azerbaijan - $1.1 million
  • United Kingdom - $1.9 million
  • Ukraine - $1.5 million
  • Other countries – $9.7 million

Last month $15.3 million was transferred out of Georgia. This was higher than the $13.8 million transferred out in September 2015, said NBG.