Remittances to Uzbekistan reach almost $5.5 billion

AKIPRESS.COM - Remittances sent to Uzbekistan in January-November amounted to $5.44 billion. This is 2% reduction or for $85 million less than in the previous year, according to the Central Bank of Uzbekistan.
The coronavirus pandemic significantly affected the volume of remittances between the countries. Remittances to Uzbekistan significantly dropped in March-April, but began growing slowly since May, nearing the level of August-September 2019. For 9 months of this year, remittances sent to Uzbekistan reached $4.3 billion, which is 4% less than in the previous year.
Absence of abrupt reduction in remittances is explained that a certain part of money arrived in the country in cash beyond banks prior to the pandemic. With introduction of lockdown and quarantine restrictions between the countries, more money were sent via banks, the Central Bank of Uzbekistan said.
According to the findings of the poll conducted by the Central Bank among migrant workers, 85% of respondents said they sent money via banks, 15% said they passed cash or used other options.