The Macedonian Central Bank (NBRM) estimates that remittances sent by Macedonian citizens living in the diaspora to their kin have dropped by about 26 percent in 2020. This is a major source of income for many families in Macedonia, as is the traditional stay in the old country by tens of thousands of emigrants during the summer, which was also greatly reduced because of the coronavirus epidemic.

The reason for the projected drop in private transfers is more than obvious – the unfavorable situation at the foreign markets where many of our emigrants live. For this year we project a drop in remittances of 26 percent, and we expect them to recoved in the mid term, as the global economic situation recovers, said NBRM Governor Anita Angelovska – Bezovska.