{"id":15928,"date":"2021-06-18T13:05:31","date_gmt":"2021-06-18T11:05:31","guid":{"rendered":"http:\/\/euronews.al\/en\/?p=15928"},"modified":"2021-06-18T13:59:57","modified_gmt":"2021-06-18T11:59:57","slug":"dependency-from-migrant-money-remittances-consist-of-10-of-albanias-gdp","status":"publish","type":"post","link":"https:\/\/euronews.al\/en\/dependency-from-migrant-money-remittances-consist-of-10-of-albanias-gdp\/","title":{"rendered":"Dependency from migrant money, remittances consist 10% of Albania\u2019s GDP"},"content":{"rendered":"

Parallel to the improvement of the pandemic situation, positive growth has been noted in remittances.<\/p>\n

Transfers from Albanian immigrants in the first semester of the year totaled \u20ac169 million, as per a Bank of Albania report.<\/p>\n

Compared to the same time span last year, remittances grew by \u20ac17 million, although the peak was witnessed by the end of 2020.<\/p>\n

From January to March last year, prior to the outbreak of the pandemic, remittances were at \u20ac152 million, reaching \u20ac203 million by October-December, the highest recorded since 2010.<\/p>\n

The latest balance of payments data indicates that the money inflow from immigrants remains important for the Albanian economy, with an annual average norm reaching \u20ac1.1 billion, or 10% of the GDP.<\/p>\n

According to the findings of a survey conducted by the Bank of Albania, 86% of the households surveyed receive remittances from a single person, 33-44 years old, who is a permanent immigrant, twice or three times a year, for more than 10 and the majority of the influx comes from Greece and Italy (over 60%).<\/p>\n

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