Scattered Clouds
clouds

18 April 2024

Amman

Thursday

71.6 F

22°

Home / Business

Jordan remittances rise 4.4 percent in 2013

22-01-2014 08:31 PM


Ammon News - Reuters - Jordan received $3.65 billion in remittances from citizens working overseas in 2013, up 4.4 percent on 2012 with signs of a recovery from the impact of regional tensions, central bank data released on Wednesday showed.

Remittances, the biggest source of foreign exchange for the aid-dependent energy importer, dropped by 5 percent in 2011 after a wave of unrest swept the region slashed growth. But inflows have begun to recover since 2012.

Recovery in capital inflows have helped the kingdom build foreign reserves and recover from an acute financial crisis that hit the country in 2012 when foreign aid fell and welfare payments and its energy import bill leapt. That forced it to take a $2 billion International Monetary Fund loan.

Most Jordanians living abroad who work in Gulf oil producing countries send money home to help their families and for investment, including in real estate.




No comments

Notice
All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.
name : *
email
show email
comment : *
Verification code : Refresh
write code :