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Romanians abroad sent back 4.3 billion euro in 2005

Joi, 23 februarie 2006, 0:00

The amount of money Romanian citizens abroad sent back in the country in 2005 exceeded 4 billion euro, according to a statistical report the Romanian National Bank (BNR) presented on Thursday.

BNR officials warned, however, that only 60% of the 4,3 billion euro sent last year have entered the country by institutionalized means. They also complained about a lack of statistics to show the proportion of the Romanian labor migration.

BNR data also show that currency sales by resident private persons rose from 5.8 billion euro in 2003 to 8.9 billion in 2005, with much of the money coming from abroad.

A new study by the Group for Applied Economy, also presented today, shows that the total volume of private transfers and income money sent from abroad exceeded 4.2 billion euro last year. Private transfers alone accounted for 3.6 billion, up a lot from the 2.8 billion registered in 2004.

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