Daily webcast

Bulgarian National Radio © 2021 All Rights Reserved

Bulgarians abroad send less money to their homeland

Photo: library

The pandemic has caused a seven-fold drop in the amount of money that Bulgarians abroad send to their relatives in the homeland. For the first 7 months of 2021, they have transferred just 98 million euros, according to the Bulgarian National Bank. In 2019 Bulgarians abroad sent a record sum of over 1 billion euros to their homeland. The working Bulgarians in the U.S., Germany and Spain sent the biggest sums to their relatives.

"Emigrant money plays a role of a complementary income for many households, especially for the poorer. The money is most often spent on food, fuel, and the purchase of small appliances. The decline would not affect the economy greatly but it would have an impact on household budgets", Adrian Nikolov from the Institute for Market Economy has told Radio Blagoevgrad.

More from category

S&P confirm Bulgaria's credit rating with stable outlook

The S&P Global Ratings have confirmed Bulgaria's long-term credit rating of 'BBB/A-2', the Bulgarian Ministry of Finance reports. The medium-term economic consequences of the pandemic are manageable. Recovering domestic..

published on 11/30/21 11:15 AM

Electricity prices and National Electric Company’s profit hit record highs

Electricity prices in Bulgaria and other EU countries have been skyrocketing recently. Meanwhile, profits of the energy companies have also increased. According to latest financial statements, the profit of the state-owned National Electric..

published on 11/29/21 2:10 PM

Lack of qualified manpower and good infrastructure in Bulgaria deters potential investors

The European Bank for Reconstruction and Development lowered its forecast for the Bulgarian economy due to the low level of vaccination against the novel coronavirus and the political crisis. Does Bulgaria stand a chance to recover after..

published on 11/24/21 6:05 PM
Подкасти от БНР