Volume of Remittances to Moldova from Abroad Grows 7,8%
OREANDA-NEWS. August 04, 2014. As it was informed in the national Bank, the volume of remittances in June 2014, made up USD155,34 million-the biggest this year, monthly amount of remittances into the country through the banks.
Thus, in comparison with June of the last year indicator grew by USD 26.9 million (+21%). The growth of remittances especially encouraging, given that in the first 3 months of this year has decreased the volume of bank transfers of funds from abroad in favor of individuals of Moldova in comparison with the same period of 2013.
In general, in the first quarter remittances amounted to USD 314,14 million, and in II quarter - USD 453,98 million (+45%). In the structure of remittances still dominates Russian ruble, the share of which, in June of this year, was 39.9% vs. 34,1% in June of the last year. The share of euro and dollar in June 2014 amounted to 35.5% and 22.6%, respectively (in June 2013 - 35% and 30.9%). According to NBM, in January-June 2014 about USD 677,37 million (88.2% of the total), came into the country via many fast money transfer systems.
As InfoMarket reported before, the volume of remittances to Moldova from abroad in favor of individuals via commercial banks in 2013 grew by 7.7% up to USD 1 billion 608,98 million. The largest amount of remittances received in Moldova in 2013 was registered in October - USD 158,14 million, the lowest - in January - USD 98,95 million. By the end of 2013, the share of the Russian ruble amounted to 33.6% of the total amount of transfers, the share of dollar - 31,3%, euro - 35,1%. According to NBM, Russia's share accounted for 68% of the total amount of Bank transfers to Moldova.
Transfers from Italy amounted to 9.3% of the total amount, Israel - 6,3%, USA - 4,8%. According to the World Bank, remittances of Moldovan guest workers make up from 20% to 30% of GDP. The absolute record by the volume of remittances to Moldova from abroad in favor of individuals via commercial banks was registered in 2008 - USD 1 billion 660,09 million.
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