Increase in remittance inflows is observed in Kyrgyzstan in 2016, the chairman of the National Bank Tolkunbek Abdygulov said today at a press conference.
According to him, in January-February there have been registered remittances at $166.7 million. The outflow amounted to $42.5 million. The net balance of remittances is $124.2 million.
Economic Research Center of the National Bank of the KR found out that larger remittances are received by families in Chui and Osh regions, smaller - in Naryn. The money is spent mostly on food, clothing, furniture, household appliances and cars. More finances are spent on various public and ceremonial events than on health and education. Remittances practically are not invested in private business.
"The decline in remittances by 27 percent in 2015 compared to 2014 in the near future will have a slight negative effect in terms of household expenditure. For example, expenditures on the purchase of durable goods, construction, public and ceremonial events will expectedly reduce," experts say.