World Bank: Remittances to Low, Middle-Income Countries Declined in 2023

President al-Alimi calls for collective Arab-Islamic measures to curb expansionist policies in the region

His Excellency President Dr. Rashad al-Alimi, Chairman of the Presidential Leadership Council PLC) called for espousing a comprehensive Arab and Islamic approach to act jointly, and collective measures to curb Israeli expansionist policies and illusions of regional dominance.

Bulgarian Tourist Union to Celebrate 130 Years of Organized Tourism in Bulgaria

The Bulgarian Tourist Union (BTU) will organize a hike for hundreds of mountain lovers, starting from the Ivan Vazov National Theatre to Mt. Cherni Vrah, to celebrate 130 years of organized tourism in Bulgaria.

Austrian central bank expects 0.3 percent growth in 2025

The Austrian Central Bank expects the local economy to record a slight growth in GDP of 0.3 percent for the current year 2025, thus avoiding entering a third year of recession, following stronger than expected economic performance in the first half of the year.

Leeds United beat Everton in English Premier League

Leeds United beat Everton 1-0 at Elland Road in the final round of the English Premier League.

Last Update: ، 2025/09/15 Time 09:35:57
Latest News:

Emergency Arab-Islamic Summit Kicks Off in Doha

Leadership Council Chairman arrives in Doha to participate in Arab-Islamic Summit

Yemen Ambassador Meets Algerian Official to Boost Bilateral Ties

Report: Houthi militias blamed for some 21 thousand violations against Yemen children in 10 years

Yemenia Airways operates its first flights to Ataq Airport in Shabwa governorate

World Bank: Remittances to Low, Middle-Income Countries Declined in 2023

[27/06/2024 06:57]

WASHINGTON - SABA
The World Bank announced that official remittances to low and middle-income countries declined in 2023 to an estimated $656 billion, after experiencing strong growth during the 2021-2022 period.

The Bank's latest Migration and Development Brief stated: "In 2023, remittances surpassed the levels of foreign direct investment and official development assistance.

Remittances to low and middle-income countries are expected to grow faster at 2.3% in 2024, although this growth will be uneven across regions."

Potential downside risks to these projections include a sharper-than-expected slowdown in economic growth in high-income host countries, as well as volatility in oil prices and exchange rates.

Efa Shereef, the World Bank's Global Director for Social Protection and Jobs, said: "Migration and the resulting remittances are core drivers of economic and human development, and many countries are interested in managing migration activities to address global demographic imbalances and labor shortages."