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

Students raise money for victims of the fire in Kočani with charity bazaar

Traditionally, on the eve of the Easter holidays, the children from the "Tsar Simeon the Great" school in the village of Ivanyane near Sofia organised a charity bazaar with handmade souvenirs, sweets and drawings. They raised the..

published on 4/19/25 12:49 PM

Egg dyeing workshops take place hours before Easter

Various events are held across the country hours before we welcome the Resurrection of Christ. In Sofia, the "It's Up to Us" Foundation invites children to a "Big Easter Egg Dyeing" from 11:00 to 15:00 at Canyon Park in Mladost 3..

published on 4/19/25 11:22 AM

Patriarch Daniil to lead the Divine Liturgy for the Resurrection of Christ

Today, on Holy Saturday, which is the last day of Holy Week preceding Easter, Christians commemorate the burial of Jesus Christ and his descent into hell to break its chains and reopen the gates of heaven for people. The Divine..

published on 4/19/25 9:45 AM