Money transfers to Georgia down 26.7% year-on-year in September
Russia ($59.47mln), Italy ($43.29mln) and the United States ($41.25mln) were the countries with the largest remittance senders in September. Photo: Nino Alavidze/Agenda.ge
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Georgia received $283.9 million remittances from abroad in September, with the figure marking a 26.7 percent decrease compared to the same month in 2022, the National Bank of Georgia said on Monday.
Russia ($59.47mln), Italy ($43.29mln) and the United States ($41.25mln) were the countries with the largest remittance senders in September.
Image: NBG
Overall, the vast majority - 95.8 percent - of all money transfers from abroad came from 23 countries.
Last month, remittances from Georgia totalled $28.9 million, compared to $32 million in September 2022.
The gross external debt of Georgia increased by $260.3 million during the second quarter of 2023 and stood at $24.2 million as of June, the National Bank said in its latest update of national debt statistics on Friday.
The National Bank of Georgia on Wednesday decreased the refinancing rate by 0.25 percentage points to 10.25 percent after monitoring developments in the domestic economy and financial markets.
Commercial banks in Georgia loaned ₾47.33 billion ($18.244 bln) and received deposits of ₾46.79 billion ($18.036 bln) in June, the latest data from the National Bank of Georgia shows.
Georgian recipients received ₾930.6 million ($355.5 mln) in remittances from abroad in June, marking a 16.8% decrease year-on-year, the latest data from the National Bank of Georgia shows.
Remittances to Georgia increased from the United States and European Union member countries in November and went down by 76.17 percent from Russia, the National Bank of Georgia said in its latest update of the figures.
Remittances to Georgia increased from the United States and European Union member countries in January and went down by 75 percent from Russia, the National Bank of Georgia said in its latest update of the figures.