Monday, October 26, 2015

Remittances to reach $7.5 billion by year’s end. Growth despite falling oil prices


Remittances by Lebanese working abroad to their home country are estimated to reach $7.5 billion by the close of 2015, up from $7.45 billion at the same time last year, according to the World Bank's Migration and Development Brief. This represents a turnaround from a decline of 5.3 percent in remittances in 2014 compared with 2013.

This expected improvement is mainly due to more stability in the global market, especially in Europe, said Wissam Harake, Economist for Lebanon at the World Ba...

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