At the end of last year, remittances to the Kyrgyz Republic totaled $3.5 billion, equivalent to 15.4 percent of the country’s GDP. The Eurasian Bank for Reconstruction and Development (EBRD) reported.
According to the bank, this figure increased by 16.8 percent compared to 2024. The main inflow came from Russia, with transfers rising by 16.1 percent year-on-year.
The increase in dollar volumes was driven by the significant strengthening of the ruble against the dollar—up 24 percent year-on-year by the end of 2025. It’s worth noting that the ruble exchange rate during this period reached its highest since mid-2022.
Impact on the economy
At the same time, the som exchange rate against the US dollar remained stable: over the past year, the national currency weakened by only 0.5 percent.
The increased cash inflow stimulated domestic demand. As a result, domestic trade in Kyrgyzstan increased by 17.8 percent year-on-year.
