Space For Rent

Space For Rent
Friday, January 09, 2015, Poush 26, 1421, Robiul Awal 17, 1436 Hijr

Portugal's dependency on emigrants is low
Published : Friday, 9 January, 2015,  Time : 12:00 AM,  View Count : 8

LISBON, Jan 8:  Portugal has a high emigration rate, but emigrants send little money back home, according to a recent study released by the Emigration Observatory in Lisbon.
Portugal received remittances totalling around 3 billion euros (about 3.6 billion U.S. dollars) in 2013, according to the report.
The number of people who emigrated has risen over the past few years. The southwestern European country received an emergency bailout package of 78 billion euros by the troika of international lenders, the European Commission, the International Monetary Fund and the European Central Bank, in May 2011.
Rui Pena Pires, a sociologist from the Emigration Observatory, said factors which affect remittances include emigrants' departure dates, since people who left recently are more likely to send money back home, and exchange rate fluctuations.    ?Xinhua

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