TIRANA, May 20 – A latest study conducted by Albania’s Central Bank expert Endrita Xhaferi shows that vast number of Albanian emigrants use unofficial means to transfer cash, usually bringing it home themselves.
The annual remittances that Albanian emigrants sent home are estimated at one billion Euro. Besides the transfer of remittances that the country’s emigrants sent home via banking system are transferred unofficially. Last year the emigrants had sent 947 million Euro via banking systems, an increase of 12 million Euro compared to 2006. Emigrants’ money is viewed as one of basic “infusions” for Albanian families and also for the society in general. The inflow is much higher given the foreign currencies brought home unofficially. (Tirana Times Staff)
Albanian Diaspora sends 1 bln to Albania every year
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