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Serbia: remittances decrease by almost 19%

On the contrary positive results in Kosovo during pandemic

23 September, 20:50
(ANSA) - BELGRADE, 23 SET - In the first seven months of 2020, remittances decreased by almost 19% in Serbia, according to data from the Serbian central bank, the specialized portal SeeNews reported. From January to July, foreign remittances to Serbia amounted to 1,6 billion euro. In 2018 and in 2019, remittances to Serbia reached approximately 3.5 billion euro per year, SeeNews recalled. Remittances in nearby Kosovo were instead up in the first seven months of the year and reached 526 million euro, 46 more than in 2019, authorities in Pristina recently said.

Last April, the World Bank warned that the pandemic could have a significant negative impact on economies and societies in the Balkans as well due to the fall in remittances from abroad. The Bank predicted a 20% decline in global remittances caused by the economic crisis induced by the coronavirus pandemic. According to World Bank data, remittances contributed to approximately 15.5% of the GDP in Kosovo in 2018, 10.7% in Montenegro, 10.5% in Bosnia and Herzegovina, 9.6% in Albania and 8,5% in Serbia (8.5%). (ANSA).

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