Remittances Down 5.4% in July 2016

Remittances contracted 5.4 percent to $2.13 billion in July from $2.25 billion in the same period last year. The decline pulled down growth to three percent in the first seven months of the year; the government expects remittances to grow four percent this year. Deployment of new workers dropped significantly as well, with land-based workers down 10.3 percent, while sea-based workers plunged 44.4 percent…

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