Sharp drop in money transfers into Georgia

(DF Watch.)

TBILISI, DFWatch–Money transfers to Georgia in December 2014 were 24.9 percent lower than in the same period in 2013, according to new figures from the National Bank.

The amount of money transfers in December was USD 116.1 milllion, which was USD 38.5 million less than in 2013, a report published on Thursday shows.

Eleven countries account for 91.1 percent of money transfers. The five top countries in terms of such transfers in December 2014 were Russia with USD 46.9 million, Greece USD 17.9 million, Italy USD 11.2 million, US USD 8.6 million and Turkey USD 6.6 million.

According to the National Bank, USD 20.2 million was sent out of Georgia in 2014; considerably more than last year’s USD 15.4 million in outgoing transfers.

In the previous month, USD 104.3 million was transferred, 16.2 percent less than in November, 2013. In October, money transfers amounted to USD 123.9 million, 6.5 percent less in 2013.