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Volume of transfers from Russia to Georgia in September lowest in 1.5 years

In total, $283.9 mln in transfers from around the world were received by Georgia in September

TBILISI, October 16. /TASS/. The volume of money transfers from Russia to Georgia in September amounted to $59.5 mln, which is the lowest figure over the past 18 months, according to the National Bank of Georgia.

According to the regulator, the most recent monthly increase in transfers from Russia was in March of this year, when they totaled $223.7 mln, exceeding the figure from the previous month. Following that, the volume of transfers from Russia decreased month after month. It was $60.3 mln in August and $59.5 mln in September, the lowest figure since April 2022. Then, remittances from Russia increased significantly in comparison to the previous months, surpassing the $100 mln mark, which they had only fallen below in July of this year.

In total, $283.9 mln in transfers from around the world were received by Georgia in September, the lowest figure in a year and a half. Despite a decrease in the volume of transfers from Russia, it continues to hold the largest share - 20.95%. Italy is second in terms of the volume of funds sent to Georgia (15.25%), and the United States is third (14.5%).

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