The Effects of Remittances’ decline in Albania - Public and Policy Implications
Tirana,15 June 2011
On 15th of July 2011, AGENDA Institute with the support of Open Society Foundation for Albania, organized a conference to launch the study: “The Effects of Remittances’ decline in Albania Public and Policy Implications”
The bells of decline of remittances have been ringing for a while. The steady inflow of foreign currency that has helped keep in balance the current account deficit is been waning leaving uncertainties about what will replace them.
Taking this income for granted, in the mean time there has been little analyses on what happens to the money that comes from the broad base of emigrants and what kind of impact will these decline have in the everyday life of the hundreds of thousands of families that received them.
AGENDA has researched, through direct interviews what happens to the money that comes from the emigrants. How do the Albanian families spend it? What part goes in subsistence and what part is invested? How is it invested? Has it declined sharply or is there been a steady fallout? Which part is decline more? What are the expectations of the Albanians for the future related to this type of income?
Using direct interviews as well as existing macro-economic data and other quantitative studies, Agenda has tried to answer those questions: what are the effects of decline of remittances in the life of Albanians due to the economic crisis and what can be done to relief these effects.
The main aspiration of this study is to increase knowledge and understanding of effects that the decline of remittances have in Albanian families, and attempt to open a public debate regarding the need for public policies that try to alleviate the impact of this decline