DUSHANBE, March 15, Asia-Plus – In 2007, $1.66 billion were remitted from Russian to Tajikistan, report released by Russian central bank about cross-border transactions by physical entities said.
According to Russian central bank, former Soviet republics last year accounted for one third of money remittances from Russia. Tajikistan along with Armenia ($1 billion), Ukraine ($1.9 billion) and Uzbekistan ($1.7 billion) was among top four CIS states in terms of money remittances from the Russian Federation.
Like other CIS states, labor migrants are a critical component in Tajikistan’s economy. Remittances keep many struggling families at home above the poverty line, and help to alleviate the stress caused by a lack of domestic job opportunities. An estimated more than 600,000 Tajik seasonal workers travel abroad each year, primarily to Russia but also to neighboring Central Asian countries.
