BAKU, Azerbaijan, November 5. Money transfers
to Georgia rose by 12.1 percent year-on-year in September, reaching
$317.8 million, according to the National Bank of Georgia (NBG),
Trend reports.
Outflows from the country also increased by 12.7 percent to
$38.2 million.
The NBG said the growth was mainly driven by remittances from
the European Union, which grew by 11.7 percent compared to the same
period last year. Transfers from the U.S. continued to expand
strongly, up by 21.7 percent, while inflows from Russia increased
by 1.3 percent.
The EU remained the largest source of remittances, accounting
for 45.4 percent of the total, followed by the U.S. with 18.8
percent and Russia with 12.4 percent. Within the EU, Italy (17.0
percent), Germany (9.4 percent), and Greece (8.2 percent) were the
leading contributors.