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Georgia records sharp increase in remittance inflows from Kyrgyzstan

BAKU, Azerbaijan, Georgia recorded a sharp increase in remittance inflows from Kyrgyzstan in August 2022, Trend on Friday with reference to the National Bank of Georgia.

According to the bank, money transfers from Kyrgyzstan to Georgia in August 2022 amounted to $13.5 million, which is 7.5 times more than in the same period last year ($1.8 million).

Thus, Kyrgyzstan ranked 8th in terms of money transfers to Georgia in August 2022.

Russia ranked first among countries in the world in terms of remittances to Georgia in the reporting month, with $110.9 million. Followed by Italy ($36.5 million) and the US ($29.2 million).

Overall, the total amount of money transfers to Georgia in August this year amounted to $334.2 million, which is 63.1 percent more than the same month in 2021 ($204.8 million).

Source: TREND News Agency