Diaspora sent over 84m euros to Kosovo just during February

Economic recognitions say the government must draft development policies so that remittances do not go into consumption alone.

At a time when citizens are facing price hikes, financial assistance from exiles is being valued as very necessary.

In February alone this year, according to Kosovo Central Bank data, the country has accepted 84.3m euros in remittances.

Until, according to the CEC, forecasts are that this year there will be an increase of remittances for 6.7 %, which will be 7 % more than last year, 11% less than in 2021.

“Remits during 2022 marked growth of 6.0% (17.7% growth in 2021). This slowdown could be the result of slow economic growth in the Eurozone, as well as rising inflation in the sending countries. Initial estimates suggest an increase in remittances of 18.9% in January 2023, while CEC projections suggest 6.7% growth for 2023”, the CEC reports.

For years, the diaspora through increased remittances has played an important role in the country's economy.