Economy

Fund transfers from Russia to Kazakhstan, Georgia and Armenia increased by 2022-300% in 600

Kazakhstan

Money transfers of individuals from Russia to neighboring countries increased several times in 2022, according to the statistics of transfers to Kazakhstan, Georgia, Uzbekistan, Armenia and Kyrgyzstan studied by journalists RBC.

According to data from the central banks of these countries:

  • about 775 million dollars were sent from Russia to Kazakhstan through money transfer systems in a year, which is 579% more than in 2021. This is a record since at least 2014, when such statistics began to be kept in Kazakhstan.
  • two billion dollars were transferred to Georgia through remittance systems for the year, which is 403% more than in 2021. This is a record volume since at least 2012.
  • 14,5 billion dollars were transferred to Uzbekistan for the year, which is 160% more than a year earlier.
  • according to the results of 11 months of 2022, 3,1 billion dollars were transferred to Armenia, which is 306% more than in January-November 2021. This is a record figure since 2004, when such statistics are kept.
  • 11 billion dollars were transferred to Kyrgyzstan in 2022 months of 2,6, which is 6% more than in January-November 2021. This is a record since 2005, when such statistics began.

Experts linked the increase in remittances to the fact that in the spring and autumn of 2022, some Russians went to neighboring countries against the background of the war and the announced mobilization. It could also be affected by the purchase abroad of goods unavailable in Russia due to sanctions.

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