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Outflow of money begins in Kyrgyzstan

An outflow of dollars through money transfer systems caused by the lower customs clearance of vehicles rates began in Kyrgyzstan. The Chairman of the National Bank Tolkunbek Abdygulov told journalists.

According to him, for January — October 2018, the outflow reached $ 444 million. Compared to last year, the figure increased by about 22 percent. The National Bank is now studying the situation in order to understand the reasons for the outflow of money.

«In our opinion, the outflow of remittances was caused by the introduction by the government of lower rates for customs clearance of motor vehicles. Today, there is an increase in the inflow of passenger cars in Kyrgyzstan. We are now analyzing the situation. What we see clearly is an increase in the import of cars. Perhaps there are some other factors, but we need more time,» Tolkunbek Abdygulov stressed.