Remittances from our compatriots in the first four months of this year have reached the value of over 350 million euros. The Central Bank of Kosovo (CBK) expects remittances to reach the level of 1.22 billion euros by the end of this year.

CBK spokesman, Kushtrim Ahmeti told KosovaPress, that the growth of remittances this year is expected to be slower, compared to last year, when there was an increase of 17.7 percent. "By April of this year, the value of remittances has reached the amount of 351.5 million euros or an annual increase of 5.4%. For the whole year, remittances are expected to reach the level of 1.22 billion euros, which will correspond to an annual increase of about 6%. The growth of remittances this year is expected to be slower, compared to last year, when there was an increase of 17.7%", said Ahmeti in a written response. Economic experts expect that during this year there will be a contraction of revenues from the diaspora due to the financial crisis and high inflation in the western countries where our compatriots live. Leaders of the Chamber of Trade and Industry Kosovo (CTIK), expect that there will be a decline in income from compatriots due to the global financial crisis. The President of the Chamber of Trade and Industry Kosovo, Skënder Krasniqi expects that there will be a contraction of income from compatriots due to the financial crisis, although he considers that remittances will have a positive impact on the economy and the country at this time. "We will have contractions from all European countries. We believe, and we want to have as many compatriots as possible to come to Kosovo, because they directly affect our overall well-being. We believe that they will come, even though they are facing the same situations, as this is a global crisis. Remittances will have a positive impact, but this is temporary because it lasts two to three months at the most. However, we, all citizens living here, are facing the same problems for 12 months, and we need a faster reaction of the Government of Kosovo with fiscal policies, offers, and better legal infrastructure than we currently have", said Krasniqi. Nagip Skënderi, professor at the Faculty of Economics, told KosovaPress that it would be normal to have lower remittance revenues, compared to last year, due to the global financial crisis caused by the Russian invasion of Ukraine. "I consider that they will also face a decline in revenues, from the fact that inflation and the global crisis have includes the countries where our diaspora is, mainly in Switzerland, Germany, Austria and others, because even there we had inflation, especially in Petroleum products… Probably, it would be normal to have a smaller income compared to last year, from the fact that last year, we had a massive influx of compatriots in Kosovo, and this year, a normal influx is expected. Therefore, the costs that they will incur in Kosovo, probably in financial terms will be higher due to the prices that have risen in total consumption. On the other hand, there will be no substantial 'expenditure', because that money does not have the same value as it had last year", he said. It is considered that a significant part of these revenues from remittances are a permanent infusion for the economy of Kosovo. Professor Skënderi also said that in this aspect it would be good to have a mutual cooperation between the Government of Kosovo and the diaspora, in order to stimulate our compatriots through various fiscal policies to invest in the establishment of factories and the opening of of new jobs. So far, billions poured into Kosovo by the diaspora have been spent on household consumption. Recall that compatriots who came to Kosovo during 2021, according to research conducted by non-governmental organizations, have spent about 2 billion euros, including remittances. Over 1 billion have been remittances, and the rest are expenses that are made by compatriots in the moments when they come to their homeland, both in the summer period and also in the end-of-year holidays in winter. The number of compatriots who entered Kosovo in 2021was over 1.5 million.