Bulgarians working abroad sent over EUR 420 million to their relatives during the first quarter of 2025. This amount is EUR 66 million higher than in the same period of 2025. The largest sum was sent by the Bulgarian diaspora in the United States, indicate data from the Bulgarian National Bank.
In the first quarter, Bulgarians in the United States transferred EUR 77.6 million. Bulgarians living in Germany transferred EUR 76 million, and those in the United Kingdom transferred EUR 74.2 million. Bulgarians living in Spain sent EUR 40.6 million to their families and relatives during the January-March period.
The money sent by Bulgarians abroad is mostly used for consumption, which boosts VAT revenues in the state budget. Households receiving financial support from abroad tend to spend the money in smaller settlements, which has a positive impact on local businesses, experts told bTV.
Edited by Ivo IvanovPublished and translated by Kostadin Atanasov
Photo: Pixabay
The positive convergence report will have a positive impact on people's standard of living and purchasing power, as well as on the country’s business environment, Bulgaria’s Minister of Economy Petar Dilov said in an interview with public service..
According to the Institute for Market Economics , today marks the so-called Tax Freedom Day , reported BNR’s correspondent Natalia Ganchovska. This is the day on which taxpayers stop working to pay their taxes and start working for..
“Bulgaria’s accession to the euro area will have a positive impact on the economy, the people, the business sector and the whole country”, said Minister of Economy Petar Dilov in an interview with public service broadcaster BNT. ''On January 1,..
Clear
Partly Cloudy