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 Public Prosecutor’s Office investigates fictitious mussel farm in the Black Sea

Suspicions of large-scale fraud with EU funds in a project to build a mussel farm in the Black Sea – southeast of Cape Emine in the municipality of Nessebar, have prompted an investigation by the European Public Prosecutor’s Office...

published on 10/20/25 1:59 PM

President of Hungary is on a two-day visit to Bulgaria

President Rumen Radev welcomed Hungarian President Tamás Sulyok in Smolyan. The guest visited the Bulgarian home of Hungarian poet, translator and artist László Nagy in the city in the Rhodopes. On October 20, the two presidents held..

published on 10/20/25 1:36 PM
 Apostolos Tzitzikostas.

Bulgaria, Greece and Romania have finalized a memorandum for joint cooperation on transport projects

Bulgaria, Greece and Romania have finalized a memorandum for joint cooperation on new transport projects, said European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas. He stated that an agreement for the..

published on 10/20/25 11:54 AM