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Volume of remittances from Kyrgyz migrants reduces almost twice

Migrants have transferred $ 76.3 million to Kyrgyzstan in April 2020 that is 1.88 times less than in March. The National Bank of Kyrgyzstan provided such data.

Compared with April 2019, the figure decreased by $ 123.84 million, or 2.62 times. If we compare the volume of transfers in April with the data for December 2019, the decrease will be $ 138.6 million, or 2.8 times.

At least $ 534 million have been transferred to the republic for four months of 2020. This is $ 206.5 million, or 28 percent less than for the same period last year.

Russia accounts for more than 90 percent of remittances — $ 517.3 million. Other $ 8.4 million were transferred to Kyrgyzstan from other states, from the United States — $ 6.7 million.

As a result of April 2020, there was also an outflow of funds — $ 17.7 million. The bulk of the money was transferred to Russia — $ 17.2 million.

The net inflow of remittances in April 2020 to Kyrgyzstan reached $ 58.6 million.

At year-end 2019, the volume of money transfers to the country reached $ 2,407 billion. At least $554.5 million were transferred from Kyrgyzstan to other states. Net inflow is $ 1,852.5 billion.

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