Bulgaria ranks second in the EU in terms of emigrant remittances

Bulgaria ranks second in the EU in terms of emigrant remittances, just after the leader Romania, according to Eurostat data. Despite the economic meltdown, monetary remittances made by Bulgarian emigrants did not decreased significantly in 2009. Money transfers from Bulgarians working abroad amounted to €1.2 billion, which indicated a drop of 15% on the previous year’s volume.

Though some experts predicted a wave of Bulgarians returning to their homelands under the pressure of the economic crisis, their expectations proved wrong, as salaries in Bulgaria remain 14 times lower than the EU average.