Kyrgyz Migrants Transferred $954 Million from Russia in 2018
In the first five months of 2018, the inflow of remittances to Kyrgyzstan from labor migrants amounted to $972.3 million, of which $954 million was sent by migrants from the republic working in Russia, according to a report published on the national bank's website.
According to official data, there are currently more than 600 thousand labor migrants from the republic in Russia. After Kyrgyzstan joined the EAEU in August 2015, migrants from the republic in Russia were granted equal labor rights with Russian citizens. The international economic integration association was established on the basis of the Customs Union and the Single Economic Space on January 1, 2015. Its current members are Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
"From January to May, the inflow of remittances from labor migrants amounted to $972.3 million. Compared to last year, this figure increased by $120.8 million," the report states.
At the same time, labor migrants from the republic working in Russia made remittances to Kyrgyzstan totaling $954.4 million, the national bank notes.
In total, during this period, about $196 million was transferred from Kyrgyzstan to other countries, and the net inflow of remittances to the country for January-May is estimated at $776 million, the statement clarifies.