IEMed article : Workers’ Remittances and Economic Growth in MENA Countries: The Role of Financial Development

18-09-2020
IEMed article : Workers’ Remittances and Economic Growth in MENA Countries: The Role of Financial Development
IEMed article : Workers’ Remittances and Economic Growth in MENA Countries: The…

The money that migrants from the Middle East and the Maghreb send to their families will fall by 19.6% this year compared to last year, according to the World Bank. The financial organization points out that migrants are more vulnerable to losing their jobs and to the drop in wages caused by both COVID-19 and the worsening of the economic situation in the Gulf countries due to the low price of oil.

This decrease in remittances affects one of the economic transfers from abroad that generates most economic growth in the countries of the Middle East and Maghreb, according to this new preview of the IEMed Mediterranean Yearbook 2020.