Send to Kindle
Pixabay
February witnessed a surge in remittances from Bulgarians residing abroad, reaching a remarkable EUR 110.5 million, marking the highest value since last July.
The upward trajectory continued from the previous month, where emigrants sent home EUR 102.1 million, culminating in a total of EUR 212.6 million for the first two months of 2024. This figure reflects a slight increase of over EUR 10 million compared to the corresponding period in the previous year.
Last year saw record-breaking monthly remittances to Bulgaria, with May witnessing emigrants transferring EUR 172.2 million. Additionally, April and June recorded remittance amounts exceeding EUR 150 million each, with figures standing at 151.5 million and 151.9 million euros respectively.
The cumulative effect of these individual monthly highs resulted in a record EUR 1.431 billion being transferred to Bulgaria in 2023, marking a substantial increase from the EUR 1.199 billion recorded a year earlier.
Significantly, for the seventh consecutive year, emigrants have sent more than EUR 1 billion to their homeland, with officially recorded sums surpassing EUR 11 billion over the past decade.
Germany and the USA emerge as the primary sources of remittances, contributing EUR 291.9 million and EUR 266.3 million respectively. Notably, only two other countries, Spain (EUR 144 million) and Great Britain (EUR 139 million), have surpassed the EUR 100 million mark in remittances.
The list of top remittance-contributing countries includes Greece (EUR 90 million), Italy (EUR 67.7 million), Belgium (EUR 59.2 million), and the Netherlands (EUR 58 million). France and Austria complete the top ten, with remittances of EUR 44 million and EUR 43 million respectively.
Bulgaria’s labor market remained stable in October, with the Employment Agency reporting a registered unemployment rate of 5.15 percent
Northwestern Bulgaria continues to hold the grim distinction of being the deadliest region in the European Union when it comes to road fatalities
A recent survey by bTV examined fuel prices in Bulgaria compared to several neighboring Balkan countries
Finance Minister Temenuzhka Petkova outlined the reasons behind the projected rise in Bulgaria’s debt for next year, which is set to reach 10.5 billion euros
A significant weather advisory is in effect for Wednesday, November 19th, as overcast conditions and widespread rainfall are forecast across Bulgaria
A significant disruption originating from the infrastructure firm Cloudflare has led to widespread accessibility issues for a multitude of websites globally
The European Commission has revised its outlook for the Bulgarian economy, projecting a slowdown in growth over the next few years
The Bulgarian National Bank plans to release a 2-euro commemorative coin titled “Bulgarian Alphabet” in the second half of 2026, highlighting one of the nation’s most significant cultural and spiritual symbols
The number of Bulgarians holding over 1 million leva (half a million euros) in bank accounts continues to rise, according to recent data from the Bulgarian National Bank
The official website dedicated to Bulgaria’s transition to the euro, evroto.bg, has published the full set of information materials used during the national awareness campaign
Economist Dimitar Sabev, from the Institute for Economic Research at the Bulgarian Academy of Sciences, has assessed the draft budget and broader economic situation in Bulgaria
As Bulgaria prepares to join the eurozone, many people who have been collecting coins from daily change may be wondering what to do with their small change
Bulgaria's Strategic Role in the EU's Drone Wall Defense Initiative
When Politics Means Violence
