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Money transfers from Kyrgyzstan increase

Kyrgyzstan Materials 11 February 2023 11:04 (UTC +04:00)
Alyona Pavlenko
Alyona Pavlenko
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BAKU, Azerbaijan, February 11. Total outflow of remittances from Kyrgyzstan abroad reached $1.2 billion in 12 months of 2022, which is a two-times increase over 2021, National Bank of Kyrgyzstan said, Trend reports via Kyrgyz media.

As the bank noted, cash outflow from Kyrgyzstan in December 2022 amounted to more than $118 million. The main share of the money was transferred to Russia ($67.2 million) and to Türkiye ($45.5 million).

According to the review of the Eurasian Development Bank (EDB), the amount of remittances from Kyrgyzstan via money transfer system increased by 2.2 times from January through November 2022, compared to the 11 months of 2021.

According to the official information, money transfers from Kyrgyzstan to Türkiye made up $48.6 million in the same month of 2022, decreasing by 15.1 percent, compared to October 2022 ($57.3 million).

Notably, net inflow of remittances in Kyrgyzstan in 2022 reached $1.7 billion.

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