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Belarusians Who Left to Work Abroad Transferred to Their Homeland the Minimum Amount for 14 Years

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Belarusians Who Left to Work Abroad Transferred to Their Homeland the Minimum Amount for 14 Years

The smaller amount was only in 2006.

According to Tomorrow of Your Country, Belarusians working in Russia transferred the minimum amount to their homeland. The smallest amount in the history of observations of the Central Bank of Russia, which published these data, was recorded only in the second quarter of 2006.

According to the statistics of Russia's main monetary institution, in the second quarter of 2020, within the framework of the so-called cross-border non-cash transfers, non-resident individuals of Russia sent $ 8.59 million to Belarus.

Compared to the first quarter of this year, the total quarterly transfer amount decreased by almost $ 2.3 million (in January-March, $ 10.884 million was transferred), and compared to the same period last year, it almost doubled ($ 17.121 million)... Moreover, this is the lowest figure since 2007. It was smaller only in 2006 ($ 6.5 million), from which, in fact, the Central Bank of Russia publishes information on cross-border transfers of non-residents.

The volume of transfers by Russian non-residents as a whole decreased in the second quarter, which captured the period of the anti-COVID quarantine announced by the authorities. If in January-March 2020 this amount was $ 1,553.208 million, then in April-June this year, it was already $ 1,386.908 million. Compared to the same period in 2019 ($ 2,216.062 million), migrant workers and expats' remittances decreased by more than $ 800 million.

For example, Tajikistan, the second largest recipient, received less by $ 50 million (the total amount in the second quarter was $ 154.903 million). Transfers to Switzerland decreased by almost 2 times (to $ 38.676 million). On the other hand, transfers to Uzbekistan, which is traditionally the leader in terms of the amount of funds received from Russia, increased by almost $ 90 million and amounted to $ 511.341 million.

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