Money transfers from Romania to the Far East are growing

Money transfers from Romania to other countries have been increasing significantly in recent years, a sign that the economy has been growing, and local companies have started to hire foreign citizens, especially from the Far East, said Massimo Canovi, head of Southern Europe for MoneyGram, reports local Mediafax. Romania sends “significant amounts to the Far East”, he added. Despite the fact that the cash transferred from Romania abroad has been increasing, the sums are still low compared to the money entering Romania from citizens working abroad. Between 2009 and 2014, Romanians working abroad sent EUR 17.3 billion to the country, more than the total foreign direct investment in Romania during that period, which totaled EUR 15 billion. Overall, between 2006 and 2015, Romanians abroad sent EUR 37.8 billion to the country while foreign direct investment totaled EUR 43.4 billion. editor@romania-insider.com