DUSHANBE, September 11, 2015, Asia-Plus – In the first half-year of 2015, remittance flows from Russia to Tajikistan have reportedly declined by 58.6 percent compared to same period last year.
According to Russia’s central bank, only 696 million U.S. dollars have been sent through money transfer system to Tajikistan from the Russian Federation over the first six months of this year, which was 972 million U.S. dollars fewer than in the same period last year (1.668 billion U.S. dollars).
Remittance flows from Russia to Uzbekistan and Ukraine have also significantly declined over the same six-month period.
Meanwhile, the National Bank of Tajikistan (NBT) has earlier noted that 1.162 billion U.S. dollars have been remitted to banks in the country over the first six months of this year, which was 32 percent fewer than in the same period last year.
We will recall that 3.831 billion U.S. dollars (USD) were sent through money transfer system to Tajikistan from the Russian Federation last year, which was 324 million USD, or almost 8 percent, fewer compared to 2013.
In 2013, 4.155 billion USD were remitted to banks in Tajikistan from Russia, which was 45 million USD fewer than in 2012.
Last year’s remittance flows to Tajikistan were estimated to account for 45 percent of country’s gross domestic product, which stood at 45.6 billion somoni (equivalent to 8.6 billion USD) in 2014.
