Hungarians send home less money

August 19, 2016

Hungarians working in foreign countries permanently or temporarily sent home less money last year than in the previous year, the business daily Világgazdaság said on Friday citing World Bank figures. The total transfer was 450 million dollars less than in 2014.

According to preliminary data, Hungarians working abroad transferred 4.2 billion dollars to Hungary last year, the majority of which probably went to family members or for loan repayments. The total transfer was 450 million dollars less than in 2014, the paper said.

The article, quoted by the Hungarian news agency MTI, says that the last time the income of Hungarians working abroad decreased was at the start of the global economic crisis, it added. Last year saw a drop in transfers not only by Hungarians working abroad but by all workers from developing countries who worked abroad.


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