BAKU, Azerbaijan, Dec. 16
By Klavdiya Romakayeva - Trend:
The volume of cross-border transfers received in Uzbekistan from January through November 2020 amounted to $5.44 billion, decreasing by $85 million or two percent compared to the same period last year, Trend reports referring to the press service of the Central Bank of Uzbekistan (CBU).
At the same time, the volume of sent foreign currency funds, on the contrary, increased by $119 million and reached $1.08 billion compared to the same period in 2019.
As a result, the positive balance on cross-border transfers in Uzbekistan for the reported period was formed at the level of $4.36 billion.
Earlier it was reported that the volume of cross-border transfers in Uzbekistan for 9M2020 amounted to $4.3 billion.
The Central Bank noted then that the volume of cross-border transfers can amount to $5.5-5.6 billion by the end of 2020, which is 6-8 percent less compared to 2019.
Chairman of the Central Bank Mamarizo Nurmuratov admitted that in April the regulator predicted a 25 percent decrease in remittances due to the coronavirus pandemic, but the decline was not so sharp.
Nurmuratov said that under the main scenario, the Central Bank expects an increase in remittances from next year.
In addition, according to the presentation of the Central Bank, in the optimistic scenario of macroeconomic development, it is expected that remittances to Uzbekistan in 2021 will grow by 2-3 percent, and in 2022-2023 they will be at the same level.
At the same time, the risk scenario provides for a decrease in shipments by 4-5 percent in 2021, by 1.5-2 percent in 2022, while maintaining the level of the previous year in 2023.
“Russia accounts for 72 percent of all international money transfers,” Nurmuratov said.
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