The volume of money transfers from Russia to Georgia in the first half of the year decreased by 3.5 times. In the first six months, the Russian Federation transferred $321.8 million to the neighboring country. A year earlier, the amount exceeded $1.1 billion.
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According to Interfax, citing data from the National Bank of Georgia, $321.8 million was received from the Russian Federation in the first half of the year, including $48.84 million in June.
At the same time, the Russian Federation remains the leader among countries in terms of the volume of remittances. Italy is in second place with $275.8 million (+9.6%). The third position is occupied by the United States; in January-June, $266.5 million was transferred from the states to Georgia (+32.8% year-on-year).
In total, remittances from other countries to Georgia fell by 30.3% year-on-year in the first half of the year to $1.6 billion.
In May 2023, 40% of all foreign transfers to Georgia came from Russia. Record figures were recorded in May 2022, when about $314 million was transferred from Russia.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
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