Russia topped the list of European countries with the highest volume of money transfers abroad carried out by migrants living on their territory, DW reported with reference to a report issued June 15 by the International Fund for Agricultural Development (IFAD).
According to this, in 2014, working on European territory, migrants transferred a total of about $ 109.4 billion home. In this case, the amounts were as follows: from Russia - about $ 20.6 billion, from the UK - $ 17.1 billion, and from Germany - $ 14 billion. Italy and Spain were in the fourth and fifth positions, respectively.
The payees lived mainly in the Balkans and the Baltic countries as well as in Eastern Europe. The first line in the corresponding list of IFAD took Ukraine followed by Poland and Romania. As noted in the document, the financial revenues were received by about 150 million people worldwide. The amount of remittances in average ranged from $ 1,500 to $ 3,200 a year per sender.
Azerbaijani guest workers transferred $1.1 billion from Russia home. Overall 743,000 migrants from Azerbaijan made remittances from Russia. Most of the money was transferred by the Uzbeks - $ 5.6 billion. This was followed by Ukraine - $ 3.9 billion and Tajikistan - $ 2.9 billion. Azerbaijan was a little outpaced by Armenia - $ 1.38 billion and Georgia - $ 1.22 billion. -0—
Economics
-
In Baku, grappling with growing environmental challenges, experts and policymakers convened on Friday for an international scientific conference titled “Sustainable Environment: Transition to Green Energy.” The event highlighted the urgent need for innovative strategies to combat pollution and advance renewable energy initiatives.
-
Kazakhstan is set to increase its oil transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline by 5.1% in 2024, reflecting growing regional cooperation and diversification in energy routes. According to figures obtained by Turan News Agency, the total volume of Kazakh oil transiting through the BTC pipeline is projected to exceed 1.464 million tons, up from 1.392 million tons in 2023.
-
In a groundbreaking development for Azerbaijan’s energy sector, GL Group, a prominent Azerbaijani oil company, has announced plans to drill the country’s first horizontal well on land, reaching a depth of 4,400 meters with a lateral section of approximately 400 meters. The project, a milestone in the region’s oil exploration history, is set to take place at the Kirsangi-Garabaghly onshore fields.
-
The Central Bank of Azerbaijan (CBA) forecasts an annual inflation rate of 5.1% by the end of 2024, comfortably within the target range of 4% ± 2%. However, recent data indicate that inflationary pressure has significantly eased over the year: in October, the inflation rate stood at 3.4%, slightly down from 3.5% in September. Official data for November have not yet been released, leaving room for speculation about possible year-end adjustments.
Leave a review