Remittances increased by 17% in the second quarter

Remittances increased by 17% in the second quarter

According to the Bank of Albania, remittances increased by 17% in the second quarter of 2015, compared to the same period of a year ago. Remittances reached the amount of EUR 162 million during this period while during January-June 2015 remittances were estimated to be EUR 304 million, 19% more than the first semiannual of 2014.

Remittances started to increase in 2014 after having known slight increase in the past years since the economic crisis of 2008 changed drastically the amount of remittances Albanians brought home.

According to experts, the increase of remittances has come due to the improvement of European countries’ economies where Albanian migrants live and work and due to the return of these migrants permanently in Albania.

Thousands of Albanian migrants that used to live and work in countries like Greece or Italy have chosen to return to Albania permanently and invest their savings here by opening new businesses.

News source: ATA
Photo credits: Avij / Wikimedia

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