Diaspora sent 153 million euros in five months

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Citizens of Montenegro who work abroad and Montenegrin emigrants, in first five months of 2016 have sent 153.1 million euros to their homeland.

”Compared to the same period of last year, the inflow of money is lower by 700 thousand euros. In the same period of 2015, 153.8 million euros was transfered. When it comes to outflow of money 23.8 million euros were sent from Montenegro”, it was said to Anadolu Agency from Central bank of Montenegro (CBCG).

From CBCG was explained that in accordance with the methodology of the International monetary find, which Central bank is applying since 2014, personal transfers are a new category which is a wider concept than it has previously been.

Apart from workers reimbursements which include only tranfers of migrants that are employed in foreign economies, personal transfers include all the other transfers between citizens.

Montenegro has the most inflow from Serbia, Italy, USA, Germany, Switzerland, Singapore and Great Britain.

Although precise number of Montenegrin emigrants and their descendants is not known, Ministry of foreign affairs estimates that there are as many as Montenegrin citizens living in Montenegro.

The biggest number of emigrants lives in North and Latin America, Serbia, Turkey, western European and former Yugoslav countries, but significant number also lives in Australia, Russia, and some African countries.

Source: Cafe Del Montenegro