Labor migrants transfer over $700M to Kyrgyzstan since early 2018
Baku, Azerbaijan, June 18
Kyrgyz migrants working abroad have transferred more than $700 million to their homeland since early 2018, the National Bank of Kyrgyzstan said in a message June 18, TASS news agency reported.
This is $84.5 million more than in the same period last year, the bank said.
The National Bank of Kyrgyzstan noted that about 95 percent of the total value of funds comes from Kyrgyz migrants working in Russia.
Over the past year, Kyrgyz migrant workers transferred about $2.4 billion to their homeland, $2.2 billion of which were sent from Russia.
The State Migration Service under the government of Kyrgyzstan said that about 800,000 Kyrgyz citizens are temporarily working abroad. More than 600,000 of them work in Russia and about 30,000-50,000 in Kazakhstan, while the rest work in Turkey, South Korea, countries of Europe and the US.