Romanians working abroad are the largest investors in the country's economy

By Alimat Aliyeva

Romanians working abroad are the largest investors in the country's economy, Azernews reports.

This is stated in a new study by the National Bank of Romania, according to which in 2023, money transfers sent by the diaspora reached a record 6.5 billion euros. This amount, equivalent to 2 percent of Romania's GDP, slightly exceeds the total value of foreign direct investment.

Money transfers sent by the diaspora have become a constant source of foreign currency, helping to maintain the leu (national currency) and cover the current account deficit.

The UK remains in first place in the top countries of origin of money transfers to Romania with 1.5 billion euros. Germany took second place with 1.4 billion euros, followed by Italy and Spain.