According to preliminary data, for 6 months of 2023, the net inflow of remittances from individuals amounted to USD 704.6 million, head of the Financial Statistics and Review Department of the National Bank of the Kyrgyz Republic Meder Abdyrakhmanov said, Azernews reports, citing Kabar.

He said that the decrease in transfers amounted to 28.5% compared to the same period last year.

“From 2022, the downward trend in the net inflow of remittances continues. The main inflow of remittances comes from Russia. And since last year, our outflow to Turkey has increased. This is due to the fact that in addition to purely money transfers, these systems also carry out a trading operation. And due to the change in the supply chains of goods from Ukraine, now part of the goods are supplied from Turkiye,” he noted.