Money sent by diaspora to Kosovo, over 170m euros for three months

The diaspora continues to be a financial resource to Kosovo families and the economy, where in the first three months of this year, 170m and 500 thousand euros, which is an increase of 7.1m euros more than the same period last year.

Kosovo Central Bank spokesman (BQK), Kuqim Ahmeti told Kosova Preis that last year, Kosovo has had an increase in the value of remittances by fellow countrymen compared to 2016.

The value of remittances or remittances for 2017 was 759 million and 200 thousand euros, until the figure was 691m euros in 2016.

This year's “, by March, the value of remittances of fellow countrymen has reached 170.5 million, which is still an increase of 7.1m euros more than the same period of the preliminary year, where the delivery value has been 163.4 million”, the spokesman Ahmeti stressed.

He added that the main states from which these shipments come are mainly those states where the Kosovo diaspora is concentrated and where Germany is led by Switzerland, the US, Austria, Italy, France, Sweden, Britain, Belgium and so on.

While, even Finance Minister Bedri Hamza has commented on remittances from the diaspora, which, according to him, have marked promotions and have positive impacts on the economy and the Kosovo market.

Why do I think there's a park for a more stable and economic development? This year budget expenditures should be higher than in the previous year, in investments and in consumption. The credit growth rate continues to be high, is about 10 per cent credit growth. The remittances have no decline, they have a rise, and they all affect the market. There is more money on the market”, Minister Hamza has said briefly.

While economy analyst Jakup Bellaqa has told Kosovo that the remittances are an important impact affecting income growth.

Incomes that send the diaspora mostly go into consumption, part in both home and family business. It should be suggested that, based on stem data, some 750m euros sent from the diaspora, remittances or annual remittances, however, affect the growth of the standard of life that citizens and the preservation of social peace, the rise of economic prosperity, directly and indirectly affect the economic development of Kosovo” respectively, he said.

Otherwise, there have often been different ideas from other economists about the possibility of channeling investments of these tools from the diaspora, which would have contributed to increased investments and employment.