The amount of money transfers from Russia to Georgia in May decreased by 50% year-on-year
[ad_1]
In May, $154.72 million was received from Russia to Georgia by fast transfer systems, which is 50.71% less compared to May last year. About it informs National (central) Bank of Georgia (NBG). Nevertheless, Russia still ranks first in the total volume of transfers to the country. In second place is Italy ($44.17 million), in third is the United States ($38.30 million).
In May 2022, the volume of transfers was a record for the entire period of monitoring – almost $314 million.
It is noted that bank transfers from the Russian Federation to Georgia are now practically impossible due to the anti-Russian sanctions of the West, therefore, transfers are made by various systems of fast transfers. The recipients in the vast majority of cases were Russians who moved to Georgia for permanent residence after the start of the military operation in Ukraine.
In total, the country received $389.9 million in May, which is 23.9% ($120.8 million) less compared to May last year. Thus, transfers from the Russian Federation in May amounted to 40.2% of all transfers from abroad.
It should be noted that the downward trend in remittances from the Russian Federation to Georgia was noticeable at the beginning of the year: in February, $188.9 million was sent from Russia to Georgia by fast transfer systems. This is $128.4 million less than in January.
About the system of cross-border transfers in the new international situation – in the material “Kommersant” “Where does the money go”.
[ad_2]
Source link
