Shifting patterns in remittances and the global economic crisis have led to a cut of 25 percent in remittances sent to Albania between 2008 and 2009.
By Tirana Times Staff
TIRANA, Dec. 21 – Reflecting the global economic crisis in countries where Albanian emigrants reside and a general trend of declining remittances, Albanians working abroad send 200 million euros less in 2009 that the previous year, according to a report by the International Organization for Migration.
That’s a 25 percent decline, considering that in 2008, Albanian emigrants brought home 800 million euros, while in 2007 that number was 950 million.
And the percentage of GDP filled by remittances has gone down to 9.6 percent from 12.3 percent last year.
About 69,000 Albanian emigrants also returned home to stay in 2008, according to Albanian authorities. The total estimated number of Albanian immigrants is 900,000, about one third of the country’s population.
Due to the economic crisis that has hit the host countries of migrants, experts had anticipated the decline in remittances. And the decline is likely to continue in the years to come
IOM estimates that about 39 percent of immigrants send money to their relatives once in six months, while 19 percent once in three months.
These indicators prove that this aid has significant impact on increasing the welfare of recipients of remittances, but also for society as a whole. Deliveries are more frequent in rural areas.
