Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Bulgarian National Bank records drop in remittances from Bulgarian emigrants

Photo: Library

In the pandemic year 2020, Bulgarians working abroad sent 339.4 million euros to their relatives in Bulgaria. This is 879.4 million euros or 72% less than the bank transfers for 2019, when 1.219 billion euro came to the country, according to BNB statistics. This is the largest decline, surpassing the collapse during the 2008 financial crisis.

Emigrants are usually one of the largest foreign investors in the country via their bank transfers to family members as this foreign money flows directly into domestic consumption and real estate investment. These funds do not create added value, but their drastic reduction seriously reinforces the negative effects of the coronavirus crisis, Bloomberg TV Bulgaria reports.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

President Rumen Radev and Foreign Minister Georg Georgiev are at the Munich Security Conference

Bulgaria will be represented by President Rumen Radev and Minister of Foreign Affairs Georg Georgiev at the Munich Security Conference.   The agenda of world leaders includes the war in Ukraine, US President Donald Trump's..

published on 2/14/25 9:01 AM

In Burgas Zoo animals and people can interact without barriers

The Burgas Zoo offers contact zones where visitors can interact with various animals, take pictures and feed them by hand. The zones are available year-round, the zoo reports on Facebook. They specify that the animals are social,..

published on 2/14/25 6:00 AM

After a brief warming temperatures drop

In the next 24 hours, over most of the country cloud cover will remain significant with temporary breaks. In the morning, visibility will be reduced in some places. On Friday , the wind will be weak, mainly from the east. In the..

published on 2/13/25 6:55 PM