Suspension of remittances to dramatically affect Moldova: WB experts
Suspending the remittances will dramatically affect the internal consumption in Moldova and the poverty level will be increasing, WB Expert Willen van Eeghen said on Tuesday to the press.
Moldova is among the first states with the greatest GDP weight of the remittances with 30%, and they cover 50% of the incomes from exports and is continually increasing, according to the report Migration and Remittances in the States of the Eastern Europe and ex-Soviet Union, elaborated by the World Bank.
In 2005, the total value of the remittances was of 900 million dollars against only 200 million dollars in 1986 when they covered only five per cent of the GDP, the document shows.
In 2005, the volume of the currency transferred through official channels by the Moldovans working abroad was of 683.24 million dollars, including 497.84 million through the quick money transfer systems, data of the National Bank of Moldova show. In 2006, the total remittances increased up to 854.55 million dollars, and the money transferred through the quick systems was of 628.61 million dollars. About 45% of the money transfers to Moldova are made officially, and 55% - through commercial banks, a formerly done survey shows. // BASA-Press
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