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

European Spartan Exercises 2025 flight training begins at Bezmer and Cheshnegirovo military airfields

The Ministry of Defence has warned of large, low-flying aircraft over the country in the coming days , but has assured the public that there is no cause for concern. The international flight training exercise, European Spartan Exercise 2025 (ESE 25),..

published on 9/23/25 1:20 PM

Bulgarian government to attract American investors from the state of Utah

Bulgaria is particularly interested in partnerships in artificial intelligence and drone technologies, Prime Minister Rosen Zhelyazkov said in the US. He was leading the Bulgarian delegation at a meeting with representatives from the..

published on 9/23/25 11:58 AM

Jews in Bulgaria and around the world welcome the new year

On the evening of September 22, the Jewish New Year - Rosh Hashanah, began. According to the Torah calendar, the new 5786th year from the creation of the world has started. Jews believe that on this day God created the first man,..

published on 9/23/25 10:39 AM