Macroeconomic Forecast Kyrgyzstan

Remittance inflows continued to improve in the first two months of 2010, totalling US$120.5mn, up from US$98.7mn during the same period in 2009. This represents a 22.1% increase y-o-y and coalesces with our previously held view that remittance flows would begin to pick up on the back of the economic recovery in Russia. Going forward, with our Russian growth forecast recently upgraded to 4.7% for 2010, we expect a similar trend for remittances to play out as the labour market in Russia improves commensurately.

To read the full article, please choose one of the following options: