The volume of remittances to Georgia increased by 11.9% year-on-year, reaching $298.4 million, while remittances from the country increased by 10.3% to $36.8 million, according to the National Bank of Georgia. The main contribution to the increase in inflows came from the countries of the European Union, where remittances increased by 14.2%, and the USA - by 15.5%. The positive effect from Russia amounted to 3.3%.
The structure of remittances shows that EU countries provide 45.5% of inflows, the USA - 19.4%, and Russia - 12.9%. Among European countries, Italy (16.9%), Germany (9.2%), and Greece (8.3%) are the leaders, the Central Bank notes.
Experts attribute the growth in remittances to increased migration and improved financial activity in the source countries, which helps maintain the stability of the Georgian economy and the level of household income.