Moldova

Moldova: Official data shows decrease in remittances from abroad

June 17, 2009

Subscribe to: RSS, Email

Moldovans working abroad transferred over 317 million dollars through commercial banks during the first four months of 2009. This makes 34 per cent less against the same period last year, when the transfers amounted to 477 million dollars, according to data by the National Bank of Moldova (BNM).

Remittances from abroad started decreasing in January 2009. Last April, they stood at 91 million dollars, a level similar to the one recorded the month before. Thus, in the conditions of the world economic crisis, Moldovans working abroad preserve their jobs and send money.

Forecasts by the Economics and Trade Ministry show that, in 2009, the money transfers from abroad will stay at the level of 2008 or will decrease, because of the economic crisis.

BNM's data show that about 80 per cent of all remittances were sent through quick transfer systems, among which Western Union, Migom, Strada Italia, Posta Rapida (Express Mail), etc.

In 2008, remittances from abroad reached the record high 1.66 billion dollars. In 2007, Moldovans sent home about 1.2 billion lei, and 855 million dollars in 2006. Moldpres

Moldpres