BEC reports remittances reached 759.2m euros

The Central Bank of the Republic of Kosovo (BQK) has announced the accepted Remitances in Kosovo, which simultaneously represent the largest category under the secondary income account, during 2017, reached 759.2m euros and marked an annual growth of 9.9 per cent.

The “all quarters of 2017 have been characterised by a significant increase in remittances, while in TM4 2017 alone, the remittances in Kosovo reached 205.2m euros and marked an annual increase of 19.0 per cent”, the ECC report says, for the three-month economic assessment, RTKlive reports.

Increasing remittances can be attributed, to a certain extent, to increased economic activity in the Eurozone and Switzerland, as remittances accepted in Kosovo come mainly from Germany and Switzerland. The remittances accepted by these two countries have a turnout of 38.0, respectively, 22.2 percent in all remittances. A significant portion of the remittances have also been accepted by the US, or 6.8 per cent of the total remittances accepted in Kosovo.