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Immigrants sent 633 million euros to Kosovo in the first half of 2023

2023-08-21 17:11:00, Ekonomi CNA

Immigrants in Kosovo have sent almost 633 million euros in the first half of this year, an increase of 77.5 million euros compared to the same period a year ago.

The most frequent remittances were registered from Germany, but Switzerland and America were also present.

This amount can almost quadruple if the money that immigrants spend during vacations in Kosovo throughout the year is also counted.

Besnik Kada from the Central Bank of Kosovo (CBK), has shown that during the period January-June 2023, the amount of remittances is 632 million and 900 thousand euros.

"Compared to 555 million and 400 thousand euros in 2022, we have an increase of 77.5 million euros more, compared to the same six months of the previous year."

He informed that the country from which the most remittances have been registered is Germany.

"In the first quarter of this year, 38.8 million euros came from Germany, while last year, that is, during the 12 months, 161.5 million euros came from Germany. 17.2 million came from Switzerland in the first quarter, followed by the USA with 7.6 million euros, Austria and Italy with 4.8 million each and so on.

And the expert on the economy, Safet Gerxhaliu, said that with the latest data from the CBK, where it can be seen that there is an increase in remittances, it is once again proven that the solidarity of the diaspora with Kosovo is continuing.

"When we see that the diaspora has sent over 77 million euros more this year than in 2022, it is evidence that the diaspora is one of the main pillars of Kosovo's support".

Gërxhaliu asked to look into the possibility that these revenues be oriented towards development and not remain only for consumption, but be channeled in the service of the development and economic recovery of Kosovo.

The Central Bank of Kosovo has shown that remittances received have reached the value of 1.22 billion euros, with an annual increase of 6.0 percent, which represents 13.7 percent of GDP./Revista Monitor