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Money transfers higher than investments inflow

By Messenger Staff
Tuesday, July 3
There are different opinions concerning the number of people living in Georgia. No official census has been recently, so this number is approximate. According to population experts, one million people have left Georgia in search of jobs and a better life. Most of the people earn money abroad and send it to their families back home. The amount of money sent back to Georgia starts at around $1,000 and up. Sometimes this money is only money Georgian families receive and live on. Analysts observe that over the last few years, money transferred to Georgia from abroad from private sources, is more than Georgia's FDI. In 2007, Georgia received investments of over $2 billion. Money transfer meanwhile, was $866 million. In 2010, foreign investments in Georgia reached $814 million, whereas money transfers reached $939 million. In 2011, FDI into Georgia reached $980 million. However, money transfers came to $1.26 billion. More than half of that enters Georgia from the Russian Federation. However, there is an increase in money inflow from EU countries too– mainly from Italy, Greece and Spain.