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Money Transfers to Georgia increase

By Messenger Staff
Tuesday, July 19
According to the data of the National Bank of Georgia there is a tendency of increase of money transfers into the country. In 2011 this increase is already 20% more than in 2010. The biggest transfers into Georgia are coming from Russia, then from Greece, Italy, USA, Kazakhstan, Ukraine and so on. There was a tendency for money transfers to decrease in 2009 during the world financial crisis when presumably Georgians working abroad were losing their jobs whereas now that the crisis appears almost over the Georgians abroad are recovering.

Georgian analysts think that most of the transfers are targeted at improving social welfare rather than conducting economic activities.