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Money transfers from Kyrgyzstan increase

Kyrgyzstan Materials 8 February 2023 14:12 (UTC +04:00)
Money transfers from Kyrgyzstan increase
Alyona Pavlenko
Alyona Pavlenko
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BAKU, Azerbaijan, February 8. Kyrgyzstan increased the amount of transferring money by 2.2 times from January through November 2022, compared to the same period in 2021, Trend reports with reference to the Eurasian Development Bank (EDB).

According to the EDB, the share of Türkiye in the amount of money transferred from Kyrgyzstan via the money transport system increased by 34 percent in November from 1.8 percent in July.

Meanwhile, the share of Russia in the amount of money transferred from Kyrgyzstan decreased to 59.3 percent in November from 96.4 percent in July.

In general, the value of money flowing to Kyrgyzstan via the money transport system in 2022 increased by 8.8 percent compared to 2021. Last year, the growth of a net inflow of money transfers amounted to 3 percent year-on-year.

Meanwhile, the EDB reports the economic growth of Kyrgyzstan by 7.7 percent in 2022 year-on-year. The main contribution falls on the gold mining sector.

Additionally, in the fourth quarter of 2022, Kyrgyzstan registered steep growth in the construction sector (by 8 percent year-on-year). At the same time, the agriculture sector increased by 7.3 percent, due to the rich harvest.

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