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

Temperatures decrease slightly, rain expected in the western regions

On Wednesday , the lowest temperatures will be between 7 and 12°C. In Sofia it will be around 8°C. Before noon it will be sunny. In the afternoon, rainy clouds will develop over the western massifs and there will be short-term rain..

published on 4/22/25 6:55 PM

Commission to assess revisions to Bulgaria's Recovery and Resilience Plan 

The European Commission has announced that it has received a request from Bulgaria to revise its national recovery and resilience plan. The Commission will examine the request, submitted by the country on 16 April, and forward it to the EU Council for..

published on 4/22/25 6:15 PM
Borislav Gutsanov

Public sector salaries cannot be increased by more than 5%, says Social Affairs Minister

The state cannot afford to increase public sector salaries by 10% this year, as demanded by trade unions. This was stated by Social Affairs Minister Borislav Gutsanov. The minister pointed out that taxes had not been changed, while pensions had been..

published on 4/22/25 6:00 PM