Deposits in banks for the first quarter of 2024 have reached a record level of 75.4 billion euros. From January to March, deposits grew by EUR 1.35 billion or by 1.8%. The rise is mainly due to increased household deposits, the Bulgarian National Bank announced.
In the first quarter of 2024, emigrants also sent a record sum of 347 million euros. In comparison, in the fourth quarter of 2023, money sent from abroad was 308.1 million euros. The largest transfers came from those living and working in Germany - 70.1 million euros, compared to 62.5 million euros in the fourth quarter of 2023. The emigrants in USA are second with 64 million euros, followed by Spain and Great Britain with 34.1 and 33.4 million euros. Greece is fourth with 21.8 million euros. Bulgarians from Austria, Belgium, the Netherlands and France also transferred sums of over 10 million euros.
Bulgaria has the opportunity to reap the full benefits of eurozone membership , but this will require stronger fiscal discipline, effective management of transition risks, and accelerated structural reforms , the International Monetary Fund (IMF)..
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