Money transfers to private people of Moldova exceed 400 million dollars in first four months of 2018
16:50 | 28.05.2018 Category: Economic
Chisinau, 28 May /MOLDPRES/ - Gross money transfers to private people exceeded 427 million dollars in the first four months of 2018. The remittances maintained at a high increase rate in last April too, when their net values grew by 14. 6 per cent, according to data by the National Bank of Moldova (BNM), made public today.
The money transfers from abroad to private persons via banks from Moldova increased by 17.2 per cent in January-April 2018 and got back to a high increase recorded ahead of the crisis triggered by the “billion dollar theft”.
According to BNM, in April 2018, financial means with a net value of 98.81 million dollars were transferred from abroad to private people through banks, - up by 14.6 per cent against April 2017. In last April, the fluctuations of the exchange rates of the currencies against the U.S. dollar contributed to 7.9 percentage points to the overall increase of the value of transfers from abroad to private people against the same period of the year before. Yet, effectively, a 6.7-per cent growth of transfers was recorded (with the removal of the effect of the exchange rate through the recalculation of the sums at the exchange rate of the concerned period of the year before).
About 39.9 per cent of all transfers to private people come from EU, 28.1 per cent from the countries of the Commonwealth of Independent States and 32 per cent from the rest of the world. Russia continues to hold the biggest share among other countries, respectively 27.2 per cent of all transfers, although the remittances from this country have decreased a lot in the last two years. The next positions are held by Israel (18.5 per cent), Italy (13.1 per cent), the USA (8.2 per cent), Germany (6.2 per cent), the United Kingdom (5.5 per cent). Such countries as France, Turkey, Spain, Romania and Ireland have quotas less than 4 per cent.
As for the structure of currencies, the transfers in euros had the main weight with 48.8 per cent, followed by transfers in dollars – 42.4 per cent and the ones in Russian roubles – 8.8 per cent.
The transfers in financial means to private persons grew by 11.2 per cent in 2017 against the year before, when the remittances dropped to the lowest level in the last ten years. Private people (resident and non-resident) received through Moldova’s banks a net sum, adjusted seasonally, equivalent to 1 billion 199.9 million dollars.
BNM said that the transfers of financial means from abroad, made for private people through banks, did not consists only of remittances of Moldova’s citizens working abroad, but included also such unilateral transfers, as local transfers, including salary ones for residents from representations of non-residents (1.1 per cent of all transfers). Also, the transfers to non-residents who temporarily stay in Moldova (0.3 per cent of all transfers from money remittances system) and pensions (social and maintenance money), as well as allowances (0.2 per cent of all transfers).
(Reporter V. Bercu, editor L. Alcaza)
