Economy
22:50 2 June 2020
Post by: WBJ

Poles working abroad sent almost PLN 4bn home in Q4 2019

Poles working abroad sent almost PLN 4bn home in Q4 2019
Source: pexels.com

In the fourth quarter of 2019, PLN 3.8 billion was sent by Poles working abroad back into the country, stated the National Bank of Poland (NBP) on June 2. Most of the money came from Germany and the UK, NBP added.

This amount consisted of transfers from short-term migrants (PLN 1 billion or 27 percent of all transfers) as well as from long-term migrants (PLN 2.8 billion or 63 percent of the whole amount). According to the central bank, the total amount of funds transferred was slightly lower (around PLN 100 million) compared to the same period of the previous year. The decrease recorded was mainly due to a lower than a year ago inflow of funds from Germany, the UK and Ireland. However, an increase in funds transferred to Poland from Norway and the Netherlands was also recorded.

Meanwhile, in the same period, PLN 3.9 billion was remitted abroad by foreigners working in Poland back to their countries, which is PLN 200 million less compared to the same period in 2018. As much as PLN 3.4 billion, which accounted for 86 percent of all funds, was remitted by Ukrainians back to their country in Q4 2019. In the same period a year earlier, workers from Ukraine transferred PLN 3.7 billion to their country.

(PAP)

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