Global remittance growth expected to slow this year

Jun 15, 2023 12:33 am

REMITTANCES to low- and middle-income countries (LMICs) are expected to remain resilient but will likely slow substantially as economic activity in countries hosting migrant workers weakens.

In its latest Migration and Development Brief, the World Bank said that remittance flows to LMICs were expected to grow by just 1.4 percent to $656 billion this year, markedly slower compared to the 8.0 percent seen in 2022.

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