The National Bank’s data reveals that the country received $301.1 million in remittances in July, marking a 1.6% decrease (equivalent to $5 million) from July 2022.
There has been a decline in remittances compared to the previous month, as July 2023 saw an inflow of $353 million in remittances. This reduction amounts to approximately 15%.
Over 7 months, $2.6 million was transferred to Georgia, with remittances from Russia contributing significantly, making up $1.2 billion or nearly half of the total remittance amount.
July’s largest volume of remittances, totaling $73.8 million, originated once again from Russia. This figure reflects a 27% annual decrease in remittances from Russia compared to July 2022’s $100.5 million.
By Mariam Gorkhelashvili
