Money Transfers to Georgia Decrease Again
According to a report by Galt & Taggart, money transfers to Georgia fell for the second month in a row. In October 2024, these transfers were $281.1 million, which is a 1.5% decrease from the previous month.
The breakdown of money coming from different countries shows some interesting numbers:
* The European Union saw an increase of 11.5% compared to last year, with 45.9% of all money transfers.
* The United States had a 20.6% growth rate and sent 18.1% of total money transfers.
* Israel also increased its money transfers by 23.1%, sending 7.5%.
* But Russia saw a decline of 44.5% in money transfers, with only 12.2% going to Georgia.
* Kazakhstan had an even bigger drop of 53.8% and sent just 2.7%.
Over the first ten months of this year, overall money transfers decreased by 20.6%, reaching $2.8 billion. Galt & Taggart predicts that total money transfers in 2024 will be around $3.4 billion.
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