Egypt topped the Arab and African countries during the year 2018 in receiving remittances of workers abroad, worth 29 billion dollars, according to the World Bank.
According to the Bank's recent report, the money sent by workers from abroad to their families in their home countries has become an important part of the economy of many countries around the world.
The world's officially registered remittances reached $529 billion in 2018 and are on track to reach $550 billion in 2019.
These funds flow almost at the same level as foreign direct investment flows, and are the largest source of foreign exchange in low- and middle-income countries, and remittances today are three times greater than ODA.
India topped the world with $78.6 billion in remittances, which became equal to or more than 25 percent of GDP in five countries: Tonga, Kyrgyzstan, Tajikistan, Haiti and Nepal.
Source: (Al-Arabi Al-Jadeed newspaper, Edited)
