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Commenting article: Bulgarian Emigrants Send USD 1.9 B Back Home to Bulgaria

According to information from the World Bank, Bulgarian Emigrants sent back close to USD 1.9 B in 2007, stated Mila Mancheva from the Centre for Migration Studies and Practices, cited by BGNES news agency Monday.

Mancheva announced that the transfer of money by Bulgarian emigrants back to their homeland amounts to the second most important factor for Bulgaria's economy. The first being the money invested in Bulgaria by foreign investors. This revelation may lead to concerns about the effect of the Global Financial Crisis on Bulgaria's emigrants.
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#1
DP - 23 Feb 2009 // 18:37:23

“This revelation may lead to concerns about the effect of the Global Financial Crisis on Bulgaria's emigrants.”

This is a misleading statement-- there is little concern in BG about the Bulgarian immigrant’s welfare.

I believe that should have been put differently--more like:
This revelation may lead to concerns about the effect of the Global Financial Crisis on Bulgaria's economic health” or something like that...

#2
fishbrain - 23 Feb 2009 // 16:24:30

i wonder how much kolega-baby sends back to his family... i say he is a bit stingy so i believe he just sends back some second hand clothes and the ocassional phone ;)

#3
CJB - 23 Feb 2009 // 15:17:34

That's 3.66% of total GDP ($51.93 billion in 2008 according to CIA world fact book).

So if say 1/3 of these BG emigres lose their jobs, BG's GDP growth will basically cease.

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