What is the Amount of Money People from Diaspora send to BiH?

October 13, 2019 7:00 PM

 

In the first six months of this year, remittances from countries outside Bosnia and Herzegovina, mainly from Diaspora, amounted to 1.32 billion BAM in BiH, which is an increase of 2.0 percent compared to the same period last year, according to the Central Bank of BiH.

On the other side, experts believe that so much unregistered money enter BiH but not over the bank accounts. “The reasons for the increase in remittances from abroad are the better financial status of people who live  in the diaspora, and the increasing number of people from BiH who decided to live abroad and who are starting to deliver money to their homeland,” it was stated from the Central Bank of BiH.

Remittances from abroad amounted to 2.65 billion BAM in 2017, and in 2018, 2.7 billion BAM.

Admir Cavalic, an economic analyst, says that the estimate that the amount of money deposited without registration is outside of bank accounts, which cannot be recorded by the Central Bank of BiH, is identical or higher.

Cavalic explained that it cannot be definitely known, but that he assumes that the amount of unregistered money is identical, so that that the amount of money received from the diaspora could be almost double.

He said there were several reasons for more money coming from the diaspora, but that it should be borne in mind that there is generally a tendency for the BiH’s diaspora to increase, Ekapija business portal reports.

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