Money transfers from Russia to Kyrgyzstan increase by 12 percent for year
The volume of money transfers from Russia to Kyrgyzstan has increased by 12 percent for a year. RBC reports.
Money transfers from the Russian Federation to the Kyrgyz Republic reached almost $2.6 billion in 2024.
Kyrgyzstan differs from Kazakhstan, Georgia, Armenia and Azerbaijan in the significant number of labor migrants in Russia, the media outlet says.
«Transfers from the Russian Federation account for almost the entire volume of transfers to the country from abroad. The central bank of the Kyrgyz Republic provides data on transactions carried out using money transfer systems, mobile banking applications and electronic wallets,» experts note.
At the same time, the volume of money transfers from Russia to Kazakhstan last year amounted to $132.8 million, or 61.8 billion tenge. In 2024, the figure in dollars decreased by 44 percent, in tenge — by 43 percent.
Last year, $541.2 million was sent from Russia to Georgia via money transfer systems, which is 65 percent less than in 2023, when $1.5 billion was sent.
The volume of transfers from Russia to Armenia over 11 months of last year decreased by 13 percent: $3.2 billion in January-November 2024 versus $3.6 billion in the same period in 2023.
