Moldova reports 1/3 decrease in remittances from abroad
Moldovans working abroad transferred over 407 million dollars through commercial banks in the first five months of 2009, down by 33 per cent against the same period last year, when the remittances amounted to 608 million dollars, according to data by the National Bank of Moldova (BNM).
The money transferred from abroad started decreasing last January. In May 2009, the remittances stood at about 90 million dollars, the same as a month before. Respectively, despite the economic crisis, Moldovans continue to keep their jobs abroad and send money home.
The Economics and Trade Ministry forecast that in 2009 the remittances will stay at the 2008 level or will drop, because of the economic crisis. BNM's data show that about 81 per cent of all the money was sent through quick transfer systems, among which Western Union, Migom, Strada Italia, Express Mail, etc.
In 2008, the money transfers from abroad reached a record level of 1.66 billion dollars. In 2007, Moldovans sent home about 1.2 billion dollars and 855 million dollars in 2006.
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