A report issued by the World Bank showed that, after remittances to South Asia recorded a growth of 12.2 percent in 2022, it is likely to slow to 7.2 percent in 2023. This regional average is the result of high growth in half of the countries of South Asia (Bangladesh, India, Nepal, and Sri Lanka). And lower growth in the other half (Afghanistan, Bhutan, Maldives, and Pakistan).
The World Bank attributed the slowdown in the growth of financial transfers from the Gulf, whether to Asia, Egypt, or other countries, compared to 2022, to the decline in economic growth in Saudi Arabia and Kuwait from 8 percent to 1.5 percent, and the decline in growth by half in the rest of the Gulf countries due to the decline in prices. Oil and production cuts in OPEC Plus countries.
Source (Al-Rai Kuwaiti newspaper, adapted)
