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Revenues from emigrants have marked a significant increase during 2021. According to the Bank of Albania, remittances or remittances brought by emigrants to their relatives in Albania have reached 541 million euros at the end of the nine months.
Compared to the same period last year when many European countries where Albanian emigrants live and work had applied strict measures to manage the pandemic situation, inflows from emigrants have seen an increase of almost 71 million euros more.
According to statistics, only in the third quarter, foreign exchange inflows of emigrants are estimated at 200 million euros, an increase of almost 1% compared to the quarter of 2021.
Referring to the central bank, during this period there has been a slight decline in the use of formal channels for remittances through the banking system and other official channels, while cash remittances have increased due to the movement of remittances with the easing of restrictive measures.
From 2015 until 2019 before the pandemic crisis, the level of remittances has seen a continuous increase, reflecting the mass emigration of Albanians across borders.
In 2020, remittances fell to a total of 637 million euros as a result of the covid-19 pandemic, an expected decrease, announced by both local authorities and international institutions such as the World Bank in reports. for Albania.
But, after shrinking a year ago, it seems that with the easing of measures by foreign countries, the income from emigrants continued an increasing trend, where by the end of the year it is likely to reach pre-crisis levels.
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