NBG President  -

NBG President - "An increase in remittances will revive economic activity"

access_time2020-07-16 14:00:17

In June, remittances to Georgia from abroad increased not only compared to the previous months, but  also compared to June 2019.


The positive trend is very important as it means that the payment deficit will not be as worse as it was after the pandemic.


“This will increase economic activity in the country and the lari’s strengthening,” President of the National Bank of Georgia (NBG) Koba Gvenetadze wrote in his Facebook post.

NBG President  noted that in April money transfers decreased by 42,3%, compared to the same period of 2019, in May - by 9, 6% while  in June increased by 17,8% compared to June 2019.


Gvenetadze emphasized the growth in the money transfers from EU countries.


In June 2020, $ 169.2 million was transferred from abroad to Georgia, which is 17.8% and 25.6 million more than in June 2019.


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