Emigrants brought EUR 128 ml in Albania during Q1

Tirana, Albania
13 June 2016

During the first quarter of this year, remittances reached the amount of EUR 128 million, says the Bank of Albania. In a latest report, the Bank stresses that remittances decreased by 10% during the first quarter of 2016, compared to the same period in 2015.

The decrease of remittances has come due to many factors, says the Bank. One of these factors is that many emigrants have built their lives outside Albania by continually interrupting the relations with their families in Albania.  However, remittances recorded a slight increase in 2014 and 2015 but economy experts relate this to the return of many emigrants from Greece and Italy to live permanently in Albania.

The report published by the Bank of Albania also says that foreign investments are one of the main contributors to the country’s economy.

News source/photo credits: ATA