Money transfers to Georgia up 127.1% year-on-year in March
In the same month, $30.4 million was transferred from Georgia to recipients abroad - a 26.7 percent increase from the March 2022 figure of $24.0 million. Photo: Nino Alavidze/Agenda.ge
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Georgian recipients received ₾1134.4 million ($438.4 mln) in remittances from abroad in March, marking a 127.1 percent increase year-on-year, the latest data from the National Bank of Georgia shows.
Russia ($223.57 million), Italy ($43.40 million) and the United States ($35.99 million) were the countries with largest remittance senders.
Overall, the vast majority of all money transfers from abroad - 97.8 percent - came from 24 countries.
In the same month, $30.4 million was transferred from Georgia to recipients abroad - a 26.7 percent increase from the March 2022 figure of $24.0 million.
The gross external debt of Georgia increased by $1.4 billion during the fourth quarter of 2022 and stood at $23.5 billion at the end of the year, the National Bank said in its latest update of national debt statistics on Friday.
Commercial banks in Georgia loaned ₾44.45 billion ($17.27bln) and received deposits of ₾43.61 billion ($16.94 bln) in February 2023, the latest data from the National Bank of Georgia shows.
Georgian recipients received ₾985.5 million ($372.3 mln) in remittances from abroad in February, marking a 103 percent increase year-on-year, the latest data from the National Bank of Georgia shows.
The downward trend of inflation in the Georgian economy will continue in case of absence of further shocks, Archil Mestvirishvili, the Vice President of the National Bank of Georgia, said on Wednesday.
Georgia received $303.6 million from abroad in July 2023, which is 0.8 less than the amount in July 2022, the National Bank of Georgia said on Tuesday.