Despite the grim experience during this half of the year for migrant workers during the pandemic, the effect on remittances – the cash flow they send home – in many cases, has been resilient. But that trend could change, according to experts.
During the second quarter of this year, despite the difficulties created by the pandemic, Albanian emigrants have managed to help their families. According to the Bank of Albania, they have sent 121 million euros to their families for this period of the year.
However, the amount sent in the second quarter of the year is 34% lower than the same period a year ago. Whereas in the first three months of 2020 emigrants working and living abroad brought to Albania 152 million euros, according to Bank of Albania statistics. Compared to the same period a year ago there is a slight increase of 1%. For the 6-month period, remittances were 273 million euros, down 18.5% year-on-year. The data show that this is the lowest level of remittances since 2008, when the bank started reporting data for this purpose.