Expats Hungarians Transfer Billions Of Euros Home
- 6 Jul 2017 8:30 AM
Hungarians living or working abroad transferred €3.5 billion back home last year, according to an MNB study. This accounts for more than 3.3% of GDP, a low figure when compared to South Eastern European countries or the Baltic states, but relatively high compared to the Central and Eastern European region.
The bulk of the transfers come from Hungarians who have been working abroad for several years.
More than 75% of funds repatriated to Hungary came from Austria and Germany.
The transfers have helped the current account surplus stay sustainably high, reports suggest.
Source: Hungary Around the Clock
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.
LATEST NEWS IN current affairs