Emigration and Remittances in Albania

Today in Albania issues related to remittances are very popular and discussed often in the media. The global financial crisis led to the reduction of remittances from Albanian emigrants because of the loss of their jobs overseas. This causes many negative effects. The national currency (Albanian Lek) started to depreciate and this creates inflationary pressures. Moreover, because most consumer products are imported, inflation increases. According to the World Bank, a substantial part of the Albanian population is living just above the poverty line. Reduction in remittances and rising inflation will cause drastic impoverishment of the major social groups and not only economic but also social shocks could be expected. In this book I do an analysis in depth of Albanian economy, emigration and remittances and their social and economic impact over the life of thousands of Albanian families.