Bosnia and Herzegovina achieved a record level of current transfers last year, reaching 5.92 billion BAM.
The Central Bank of Bosnia and Herzegovina pointed out that of the total amount, 4.46 billion BAM refers to remittances, and 1.46 billion BAM to other current transfers, and that this confirms the continuous growth of the inflow of funds from abroad and their increasing importance for the country’s economy.
Compared to the previous year, total current transfers are higher by approximately 230 million BAM, while remittances recorded an even more pronounced growth of around 290 million BAM, and other current transfers recorded a slight decrease of around 63 million BAM.
“These data clearly indicate the exceptional importance of the diaspora and the inflow of funds from abroad for the domestic economy. Remittances represent a significant source of income for a large number of households, contributing to increased consumption, mitigating social differences and preserving the living standards of citizens,” the Central Bank announced.
