Kosovo's emigrants continue to contribute to sending money to their families, despite the global economic crisis caused by the Russian military aggression in Ukraine since February 2022.
That's what it says in the latest report of the Central Bank of Kosovo (CBK) on remittances and trade in goods for the month of August 2023, adding that by the end of July they reached the value of over 750 million euros.
"According to preliminary estimates, remittances for August were around 142.2 million euros. The largest inflows during this month were through non-banking financial institutions with 42 percent, other channels with 40 percent, and through banks with 19 percent," the CBK emphasizes, writes Telegraph.
Also, it is emphasized that the increase in remittances for seven months, compared to the same period, was 12 percent.
"Remittances by the end of July 2023 reached a value of around 754 million euros, which represents an increase of 12 percent compared to the same period in 2022, where in July alone they were 118.8 million euros. Remittances mainly come from EU countries, around 70 percent, of the total remittances, of which Germany leads with 38.1 percent and is followed by Switzerland with 17.6 percent and the USA with around 7.5 percent," the report adds.
Meanwhile, the World Bank says that the participation of remittances in the Gross Domestic Product (GDP) of Kosovo is about 20 percent, where about 13 billion euros have been sent since the declaration of independence.
From the preliminary results of the diaspora census, the number of Kosovo citizens living in different countries of Europe and the world, who responded to the census, is about 350 thousand. /Telegraph/
