Georgia receives $97m in remittances:
Russia, US, Italy are top donors in November 2016

  • 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, 15 Dec 2016 - 17:27, Tbilisi,Georgia

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

Last month Russia transferred $35.4 million to Georgia, which was 33.8 percent of all money transfers made to Georgia in November.

Georgia's second largest donor was the US with $10.3 million in money transfers, followed by Italy who transferred $9.9 million.

Overall Georgia received $97.8 million from abroad in November 2016. This was 14.8 percent more year-on-year (y/y), said the National Bank of Georgia (NBG).

The vast majority (89.7 percent) of all money transfers from abroad came from 11 major donors.

After Russia, the US and Italy, Georgia's other big donor countries in November 2016 were:

  • Greece – $8.5 million
  • Turkey - $8.1 million
  • Israel - $5.9 million
  • Spain - $2.5 million
  • Germany - $2.5 million
  • Ukraine - $2 million
  • Azerbaijan - $1.4 million
  • United Kingdom - $1.1 million

Meanwhile last month $17.1 million was transferred out of Georgia. This was higher than the $14.7 million transferred out in November 2015, said NBG.

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