12:01 29.02.2016

Remittances from Ukraine 33% down in 2015, to Ukraine 35% down

1 min read
Remittances from Ukraine 33% down in 2015, to Ukraine 35% down

Remittances outflow from Ukraine fell by 335 in 2015, to $431 million in the equivalent, and remittances inflow to Ukraine decreased by 35%, to $2.526 billion in equivalent, Deputy Director of the payment systems department at the National Bank of Ukraine (NBU) Olena Makhayeva said at the conference entitled "Innovations and Security of Remittance systems and Online Payments."

"Unfortunately, the figures are not good as in the previous years. If in 2014, the fall in remittances inflow was 21%, in 2015 it was 35%. If we speak about the remittances outflow in 2014 it fell by 22% and in 2015 – by 33%," she said.

Makhayeva said that inside the country last year 80 million remittances worth UAH 27.7 billion were settled via the remittance systems created by banks and 87.7 million remittances worth UAH 9.9 billion via the remittance systems created by non-bank institutions.

She also said that 47 systems were involved in the remittance flow in 2015, including 28 resident systems and 19 nonresident systems.

Among resident systems eight systems were created by banks, eight by non-bank institutions and 12 systems are intra-bank systems.

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