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Inflow of remittances into Kyrgyzstan decreases by $43.7 million for month

In January 2023, migrants transferred $146.7 million to Kyrgyzstan, which is $43.7 million less than a month earlier. The National Bank provided such data.

Compared to January 2022, the amount decreased by $30.3 million. Russia accounts for the largest part of the remittances — $131.5 million. At least $4.9 million was transferred to the Kyrgyz Republic from other states, and $3.3 million — from the USA.

According to the results of January, there was also an outflow of funds of $57.9 million. Over the month, the indicator decreased by $60.2 million, or two times. But compared to January 2022, the figure, on the contrary, increased by $23.5 million. The main part of the money was transferred to Turkey ($29.5 million) and Russia ($27.2 million).

The net inflow of remittances into Kyrgyzstan as a result of January amounted to $88.7 million. This is $53.9 million, or 1.6 times less than the level of January 2022.

At year-end 2022, the volume of money transfers to the republic amounted to $2,928.2 billion. $1,200.7 billion was transferred from Kyrgyzstan to other countries. Net inflow is $1,727.5 billion.

Source: News Agency