Migrant Remittances To GDP Ratio Decreases In Kyrgyzstan
Date
2/25/2024 12:08:43 AM
(MENAFN- AzerNews) Remittances from labor migrants remained close to 30 percent of
GDP for most of the 2010s before falling markedly in 2022–2023. The
macroeconomic review of the Eurasian Development bank (EDB) says, Azernews reports, citing 24 news agency.
The bank's economists believe that this happened not because of
a reduction in the amount of transfers in dollars, but because of
the rapid growth of the country's GDP in dollar equivalent.
((The structure of the migration influx to Russia is changing:
the share of citizens of Uzbekistan and Tajikistan is growing, and
the share of citizens of the Kyrgyz Republic and Armenia is
decreasing. The importance of remittances from individuals for the
economies of Uzbekistan and Tajikistan increased in 2022–2023,
while it decreased for Kyrgyzstan and Armenia,)) the EDB notes.
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