BAKU, Azerbaijan, May 15
By Ilkin Seyfaddini - Trend:
The Central Bank of Uzbekistan recorded a decline in salary payments in the country due to the coronavirus pandemic, Trend reports with reference to Central Bank of Uzbekistan.
The quarantine announced in Uzbekistan has had an impact on cash requirements, which in April contributed to significant drop in cash withdrawals by banks, compared to previous months, the report said.
The Central Bank attributes this to decrease in cash requirements for salaries by 1.1 trillion soum ($108.1 million), as well as decrease in international money transfers and decrease in the amount of cash for buying foreign currency.
According to the Central Bank, in April, the share of pensions, social payments, as well as cash withdrawals from bank cards increased, which makes 56.3 percent of the total amount of cash.
In addition, the Central Bank of Uzbekistan notes a decline in the country's economic activity in April 2020.
Due to decline, the volume of receipts decreased by 41 percent compared to March (to 7.9 trillion soum - $776.3 million compared to 13.4 trillion soum - $1.3 billion).
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