The Diaspora is vital for Kosovo’s economy

The Diaspora is vital for Kosovo’s economy

The low level of employment and the high levels of poverty in Kosovo have forced many people from this country who live abroad, to send money to their families back home.

According to the Central Bank of Kosovo, the amount of money that they send every year is around half a billion euros. Besides the money that they send back home, they also spend a considerable amount of money when they come to Kosovo to spend their summer holidays.

Naim Dedushaj, head of the Diaspora’s Investment Office at the Ministry for Diaspora, says that the contribution of the Diaspora has been and continues to be significant.

“We can say that remittances have helped Kosovo, but we think that time has come to use these remittances not only for consumption, but also for investments”, Dedushaj says.

Berat Rukiqi of the Kosovo Chamber of Commerce says that remittances from the Diaspora remain one of the main sources of the economic growth of the country.

“In this context, the support given by the Diaspora in the form of financial aid and investments, has had a positive impact especially in funding consumption in the country”, Rukiqi says.

According to the annual bulletin of the Central Bank of Kosovo, during 2016, the amount received in the form of remittances was 700 million euros.

Based on these figures, this amount is expected to go up by 2.8% this year. /