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It has been widely accepted that migrant remittances have been a major factor in the financial survival of the country.
When comparing the percentage of emigrant remittances weighted against GDP, Albania is placed firmly at the top of the list of 20 emigration countries...
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RECENT DATA
Albania has absorbed, in the form of inward remittance flows, substantial
quantities of hard currency each year.Specifically speaking,around
6.6 billion Euros are estimated to have flown to Albania for the last
15 years (since 1992) as emigrant transfers, standing for approximately
13% of the GDP.
According to IOM, migrant remittances are defined broadly as the monetary transfers that a migrant makes to the country of origin.
In other words, financial flows associated with migration.
Most of the time, remittances are personal, cash transfers from a migrant worker or immigrant to a relative in the country of origin. They can also be funds invested, deposited or donated by the migrant to the country of origin.
