Workers’ remittances rebound in August

Central Bank disclosed yesterday workers’ remittances grew at a healthy rate of 9.2%, year-on-year, to $ 618.3 m in August. 

“The growth in workers’ remittances was on the backdrop of a decline in receipts during July 2016, which is mainly attributed to the prevailing economic stagnation in Middle Eastern countries and lower migration under the unskilled categories,” the Bank said.

Cumulative inflows from workers’ remittances grew by 4.5% to $ 4.8 b during the first eight months of 2016 in comparison to $ 4.59 b in the corresponding period of 2015.