Global re­mit­tances rise

Gulf News - - News -

World Bank es­ti­mates that of­fi­cially recorded re­mit­tances to de­vel­op­ing coun­tries will in­crease by 10.8 per cent to $528 bil­lion in 2018. This new record level fol­lows ro­bust growth of 7.8 per cent in 2017. Global re­mit­tances, which in­clude flows to high-in­come coun­tries, are pro­jected to grow by 10.3 per cent to $689 bil­lion.

Re­mit­tance flows rose in all re­gions, most no­tably in Europe and Cen­tral Asia (20 per cent) and South Asia (13.5 per cent), fol­lowed by Sub-Sa­ha­ran Africa (9.8 per cent), Latin Amer­ica and the Caribbean (9.3 per cent), the Mid­dle East and North Africa (9.1 per cent), and East Asia and the Pa­cific (6.6 per cent).

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