Drop in expatriate remittances spells bad news for Lithuanian economy
Tuesday, November 24, 2015
Remittances from the Lithuanian diaspora has long played a significant role in the country's economy. Expatriates send a lot of the money they make in the UK or Norway to their families that stayed behind in Lithuania, stimulating domestic consumption and keeping some low-earning relatives from falling into poverty. Statistics indicate, however, that remittances have dropped significantly this year.