Fady Asly, Chairman of Channel Georgia Consulting and Chairman of the International Chamber of Commerce in Georgia names 3 main reasons for foreign remittance increase in Georgia:
“1- More people are leaving the country to work abroad and therefore they do transfer back money to their families.
2- Hundreds of thousands of people have lost their jobs in 2020/2021, so their relatives abroad need to transfer more money than usual in order to sustain them.
3- Inflation has increased to such an extent, that a large part of the population finds it impossible to survive on their current salaries anymore and they ask therefore for the assistance of their relatives abroad”,- Fady Asly writes on his Facebook page.
According to him, brain drain is the weapon of dictators and kleptocrats.
“Who push out of the country the young and educated who can't vote anymore to change the corrupt system, greatly benefiting as well from foreign remittances that are used by families to pay for utilities and food products that are most of the time in the hand of those kleptocrats, thus making them even wealthier and more in control of the country”, - Fady Asly writes.
