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Bank remittances by Bulgarians abroad to relatives in Bulgaria decrease

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The money sent by the Bulgarian diaspora abroad to relatives in Bulgaria is decreasing. In March 2022, Bulgarians abroad sent only 14.9 million euros, according to the Bulgarian National Bank. The amount is almost equal to that of March 2021. But it is more than 7 times less than the funds received from abroad in March 2019, before the Covid pandemic.

For the first quarter of 2022, the funds received from the diaspora amounted to 39.7 million euros. This is 260 million euros less than in the same period of 2019. Most money comes from Germany, the United States, Spain and Greece.

According to the World Bank, remittances from other countries in Southeast Europe to relatives after the pandemic are not only not decreasing, but even increasing.

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