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Russian money transfers to Georgia down 4.8-fold in October year-on-year

Russia still tops the list of money senders to Georgia with a 21.8% share, followed by Italy and the US

TBILISI, November 15. /TASS/. Money transfers from Russia to Georgia in October this year totaled $61.8 mln, 4.8 times less than in the same period of last year, the National Bank of Georgia reported.

Money transfers from Russia to Georgia rose by $2.3 mln, or 3.8%, in the reporting period month-on-month, the regulator said. Growth was registered for the first time in half a year as money transfers consistently declined over the past months, having reached the lowest level since March 2022 in September.

Russia still tops the list of money senders to Georgia with a 21.8% share, followed by Italy (15.04%) and the US (14.74%). Money transfers to Georgia from various countries of the world amounted to $283 mln in October, down by 43.6% year-on-year.

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