Diaspora brings 1 bln euro to Serbia in first four months of this year

In the first four months of 2019, the Serbian diaspora brought more than EUR 1 billion to Serbia, which is 2% more than in the same period in 2018.

Considering that the season of annual leaves and holidays is ahead and that a large number of Serbian citizens who work abroad will spend some time in their homeland, this could result in this year’s foreign exchange transfers from abroad exceeding the amount of EUR 3.4 billion which was recorded in 2018, the Kurir daily writes in today’s issue.

As the National Bank of Serbia (NBS) explains, the biggest percentage of these payments, around 80%, is denominated in euros and comes from the European countries where most of the Serbian diaspora lives and works, primarily Germany, Switzerland, Austria and France.

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The NBS says that the average amount varies depending on the location from where the money is sent and the way the transfers are made – quick payments averaged at around EUR 260 in 2018, whereas payments through banks averaged at around EUR 2,000.

Traditionally, these payments have been a relatively stable financial influx of money from abroad and stand at around 8% of the GDP annually, the NBS adds.

The Chamber of Commerce and Industry of Serbia also points out that money transfers from abroad are important for the Serbian citizens, as they supplement their earnings, while also reflecting on Serbia’s economy indirectly, through increased spending.

(RTV, 01.07.2019)




This post is also available in: Italiano

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