Money transfers to Azerbaijan fell 55% in last two years

Baku. 16 February. REPORT.AZ/ The volume of remittances from abroad decreased by 34.57% compared to 2015, and 54.71% compared to 2014. 

Report informs referring to the Overview on Monetary Policy on Results in 2016 released by the Central Bank of Azerbaijan (CBA).

According to report, money transfers in the amount of 774 mln USD were carried out from outside the country. This figure was 1,183 bln USD in 2015, and 1,709 bln USD in 2014.

A reduction in remittances caused by weakening of economic activity in key partner countries.