USD 3.5bn each year in remittances
Minister for Diaspora Milica Čubrilo says some USD 3.5bn arrive in the coutnry from Serbians living abroad.
Sunday, 20.04.2008.
17:25
Minister for Diaspora Milica Cubrilo says some USD 3.5bn arrive in the coutnry from Serbians living abroad. At the same time, approximately 80 percent of that sum is trasferred through unofficial channels, the minister, who recently visited the Serb community in Sweden, added. USD 3.5bn each year in remittances Cubrilo also stressed that hardly any of that money is invested in the country's economic development. Instead, much of it becomes the so-called dead capital, and goes toward sustaining struggling families of those who live abroad. Another problem is seen in the difficulties those Diaspora Serbs who wish to invest here face, including the local governance red tape and lack of professionalism. "Corruption and arrogance of those in such positions to make decisions lead to serious consequences for the economy and economic development in the long-term," she said, and added this is something that "must be worked on and improved". "We are convinced that, together with the Diaspora, we can, in their interest and ours, channel the remittances into development projects that will provide their families not only with money to make ends meet, but with new jobs," Cubrilo said.
USD 3.5bn each year in remittances
Čubrilo also stressed that hardly any of that money is invested in the country's economic development. Instead, much of it becomes the so-called dead capital, and goes toward sustaining struggling families of those who live abroad.Another problem is seen in the difficulties those Diaspora Serbs who wish to invest here face, including the local governance red tape and lack of professionalism.
"Corruption and arrogance of those in such positions to make decisions lead to serious consequences for the economy and economic development in the long-term," she said, and added this is something that "must be worked on and improved".
"We are convinced that, together with the Diaspora, we can, in their interest and ours, channel the remittances into development projects that will provide their families not only with money to make ends meet, but with new jobs," Čubrilo said.
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