Remittances approached 1 bn USD in ten months
In ten months this year Moldovan citizens working abroad transferred through 972.18 mln USD. The remittance volume exceeds by almost 14% the figure registered in 2006.
BNM statistics show that in October the remittances totalled 129.56 mln USD compared with 116.06 mln USD during the previous month.
During this year, a constant growth of monthly remittances was registered, from 60 mln USD in January to 127.36 mln USD in August, and 129.56 mln USD in October. Experts say that the growing trend will preserve until the end of this year.
About 80% of remittances are transferred through rapid transfer systems. The most important operator was Western Union, accounting for approximately 50% of remittances, and the biggest amounts were transferred by Moldovan citizens working in Russia.
Observers believe that the ongoing increase of the volume of remittances is a consequence of the growing number of citizens working abroad, their legalization, but also because they earn bigger wages.
According to IMF forecasts, in 2007 the volume of foreign exchange inflows might reach 1.283 bn USD, and in 2008, 1.411 bn USD. The remittances account for over 36% of the GDP and rank Moldova on the first place in World Bank's latest top.
According to the data provided by the National Statistics Bureau, about 334,000 Moldova people were reported left abroad at the end of 2006. However, according to some independent experts, the number of Moldovan citizens who work abroad outnumbers half a million people.
In Moldova, the following international rapid transfer systems are operated Anelik, Blizko, BESXspress, Caspian Monez Transfer, Contact, Grecia Transfer, Inter Express, Leader, Migom, Monez Gram, Privat Money, Posta Rapida, Strada ItaliaConistar (Travelex ), Trabex, Turkiye Express, Unistream, Uno Money Transfer, Western Union, Xpress Money.
// DECA-Press
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