Kosovo’s economy relies on remittances

Kosovo’s economy relies on remittances

Remittances by emigrants continue to remain an important source of incomes for Kosovo’s economy.

According to the data supplied by the Central Bank of Kosovo, from January until now, migrant workers have sent around half a billion euros to their families.

Compared to the same period last year, these incomes increased by 39 million euros.

According to the Central Bank, the Diaspora’s contribution has registered a growth this year. The Bank also says that from 2004 until 2016, remittances that Kosovo has received from the Diaspora amounted to 7.09 billion euros.

From 2004 until 2008, remittances were on the rise, while from 2008 until 2011, they were on the fall. 2008 is remembered as the year of the global financial crisis. Meanwhile, from 2012 until 2016, remittances registered growth each year. /balkaneu.com/