The size of Uzbekistan-bound money remittances in Q1 of 2022 slightly increased, the Central Bank said in statement. In three months, the country received transfers worth $1.47 billion, which is $49 million or 3% more compared to the same period last year.
In 2021, the volume of money remittances to Uzbekistan topped $8.07 billion, which is by 34% more than in 2020 and 2019 (6 billion). Russia accounted for 70% of transfers last year — $5.67 billion. But due to the economic situation in the Russian Federation due to the war in Ukraine and sanctions, World Bank experts in early March predicted a decrease in transfers to Uzbekistan by 21% instead of the expected growth of 3%.
