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

Burgas Municipality declares a partial state of emergency due to heavy rainfall

The Municipality of Burgas has declared a partial state of emergency until October 6. Mayor Dimitar Nikolov said that evacuations will be carried out in the areas most affected by the heavy rainfall, if necessary.  The measure was introduced due to..

published on 10/3/25 11:11 AM
Tomislav Donchev

50% of all funds under the operational programs have been contracted, says Deputy Premier Tomislav Donchev

''Funds disbursed under all EU operational programs amount to 3.3 billion BGN (1.587 billion EUR). A total of 12 billion BGN (5.770 billion EUR) has been contracted, representing 50% of the total funding. Contracting has accelerated by 50%, and..

published on 10/3/25 10:51 AM

Bulgaria's Ministry of Foreign Affairs condemns the attack on a synagogue in Manchester

''We are shocked and deeply saddened by the heinous attack on a synagogue in Manchester, especially on Yom Kippur — the holiest day in the Jewish calendar'', stated the Ministry of Foreign Affairs in a post on the platform X.   "We join British..

published on 10/3/25 10:02 AM