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Private persons of Moldova receive more money from abroad

13:30 | 27.09.2018 Category: Economic

Chisinau, 27 September /MOLDPRES/ - Private persons from Moldova receive more and more money from abroad through banks. In January-August 2018, the transfers reached an equivalent sum of more than 857 million dollars, up by 93 million dollars against the same period of the year before, according to data by the National Bank of Moldova (BNM).

The money transfers to private persons from abroad through licenced banks increased by 12.4 per cent in the first eight months of this year against the same period of 2017. BNM’s data also shows that the growth was of 9.3 per cent in January-August, last year.

The remittances maintained at a high rate of increase during the first eight months of 2018, even if a four-per cent decrease was recorded in last August, as a result of the fluctuation of the exchange rate of currencies against the U.S dollar, which contributed 0.4 percentage points to the overall drop of the transfers from abroad to private people, as well as an effective cut in the remittances by 3.6 per cent. Most money came in last may, when the net transfers amounted to 126 million dollars.  

The structure of currencies in which transfers are made changed against the year before. About 46.2 per cent of the transfers to private persons in last August were made in dollars, against 50.9 per cent in August 2017, followed by transfers in euros – 46.2 per cent, up by 7.4 percentage points against the same period of the last year and 7.6 per cent in Russian roubles, against 10.3 per cent in August last year.  

According to BNM, most transfers to private people in August 2018 came from EU, respectively 39.8 per cent of all transfers, followed by the Commonwealth of Independent States (CIS) with a share of 29.2 per cent and the rest of the world has a quota of 31 per cent. The five countries from which transfers are coming to private persons are: Russia with a share of 27.7 per cent of all transfers, Israel - 17.3 per cent, Italy – 11.8 per cent, the USA – 8.9 per cent and Germany – 6.6 per cent.     

The National Bank warns that private people who transfer and receive money through the money remitting system can have the citizenships of any states. The origin and purpose of the money transferred can be different. The data include discounts with the banks from Moldova, without the banks from the districts of the left bank of Dniester.  

Data by the National Statistics Bureau on the revenues and expenses for the second quarter of 2018 shows that “an important share is held by the money transfers from abroad, with their contribution standing at 16.5 per cent of the revenues.” Revenues from the salary activity had a biggest quota, respectively 42.4 per cent, and social benefits – 23.9 per cent.    

(Reporter V. Bercu, editor A. Raileanu)

 

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