Money transfers stood at US$ 278.5mn in Apr-24
Money transfers were down by 24.8% y/y to US$ 278.5mn in Apr-24, after falling by 36.5% y/y in previous month, due to the last year’s high base and normalization in transfers from Russia. Meanwhile, on a monthly basis, money transfers were flat. From top countries, there were substantial increases in remittances from EU (+11.9% y/y, 43.0% of total), USA (+35.4% y/y, 16.6% of total) and Israel (+17.2% y/y, 7.1% of total). Meanwhile, transfers reduced from Russia (-69.3% y/y, accounting for 17.6% of total), Kazakhstan (-37.9% y/y, 4.4% of total) and Türkiye (-0.3% y/y, 2.9% of total). Overall, in 4M24 remittances decreased by 33.3% y/y to US$ 1.1bn.
