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More money coming in from abroad

By M. Alkhazashvili
(Translated by Diana Dundua)
Wednesday, December 26
Money transfers from abroad have gone up in the last 11 months, according to the National Bank of Georgia.

From 2000 to 2005, the newspaper 24 Saati calculates, money transfers into Georgia averaged USD 15 million per month. In 2006, that figure tripled to USD 45 million per month, and in 2007 shot up to USD 70 million each month.

Russia remains the largest source of cash influxes, 24 Saati writes, with USD 480.2 million out of USD 766 million in the first 11 months of the year. The next largest money sources were the United States, Greece and Spain.

Money transfers from Georgia out of the country, meanwhile, fell 23.6 percent from last year to USD 96.7 million in the first 11 months of 2007.