Foreign remittances in Saudi Arabia during the year 2018 fell to 136.432 billion riyals, about 4 percent, compared with 141.6 billion riyals in 2017.
Saudi Arabia has begun to implement job placement programs, including entire sectors dominated by migrant workers, to reduce unemployment rates and provide job opportunities for the Saudi youth.
Saudi Arabian Monetary Agency (SAMA) data showed that foreign remittances declined by 19.4 percent year-on-year to SAR 11.31 billion, after amounting 14.041 billion riyals in December 2017.
During the fourth quarter of 2018, foreign remittances amounted to 32.93 billion riyals, compared with 38.261 billion riyals in the fourth quarter of 2017, recording a decline of 14 percent.
The Saudi remittances fell slightly on a monthly basis to 4.53 billion riyals in December, compared with 4.80 billion riyals in November. On a year-on-year basis, Saudi remittances abroad fell by 26%, compared to SAR 6.05 billion at the end of December last year.
Source: (Al-Arabiya.net, Edited)
