Bulgarians Working Abroad Send Less Money Home, Experts Say

Bulgarians working abroad sent nearly €12 million less to their families at home last year compared to 2024, according to data from the Bulgarian National Bank. On average, around €117 million per month flowed into Bulgarian households from relatives in Western countries.

While seemingly a large sum, experts explain that changes in socio-economic conditions abroad have reduced the ability of workers to send money home.

Adrian Nikolov said: "A significant portion of jobs for Bulgarians abroad, especially in lower segments of Western European economies, were either lost or at least threatened. These workers often need to support themselves first, leaving less capacity to send money to Bulgaria."

Assoc. Prof. Svetla Boneva added: "Inflation affects the whole world, not just Bulgaria. Many earnings made abroad are spent locally, and the number of Bulgarians living abroad is gradually decreasing as more of their relatives move there too."

On a positive note, fewer households now rely on monthly remittances for day-to-day expenses. Boneva noted that rising domestic incomes, outpacing inflation, have helped many families become more self-sufficient.

Assoc. Prof. Svetla Boneva highlighted that recent income growth in Bulgaria has lessened households’ reliance on money sent from abroad:

"Recently, everyone has seen that incomes have risen, and the National Statistical Institute released data showing that income growth has outpaced inflation. This is another factor that contributes to families managing on their own," she said.

The largest remittances come from Germany, Spain, the United Kingdom, and the United States, according to Bulgarian National Bank data. However, experts caution about the specifics of this reporting.

Adrian Nikolov explained: "The Bulgarian National Bank frequently adjusts its methodology – there were some changes in 2022–2023. It is important to stress that this is not standard bank statistics; it is a modelling of data conducted by the bank itself."

Most of the financial support is used for everyday consumption such as food, medicine, utilities, and minor home repairs.