In February, migrants transferred $177.1 million to Kyrgyzstan, up by $25.6 million MoM, the National Bank of Kyrgyzstan reported.
Compared to February 2020, the figure decreased by $2.3 million. In just two months of this year, migrants have transferred $328.6 million to the country, down by $16 million.
Russia accounts for more than 97% of remittances – $319.8 million. $2 million was transferred from other states to the Kyrgyz Republic and $5 million – from the United States.
An outflow of funds of $41.9 million was also registered. The bulk of the money was transferred to Russia – $40.4 million. The outflow is estimated at $74.5 million in two months.
The net inflow of remittances in January-February to Kyrgyzstan amounted to $254.1 million.
At year-end 2020, the volume of money transfers to the republic amounted to $2,377.16 billion. At least $488.23 million was transferred from the Kyrgyz Republic to other states. Net inflow was $1,888.93 billion. (24.kg/Business World Magazine)