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Saudi cuts remittance ratio
- Saudi Arabia: Monday, January 29 - 2007 at 08:34
Saudi Arabia almost halved the proportion of its GDP that is made up of expatriate remittances between 1990 and 2005, according to an Arab Monetary Fund report cited by the Gulf News. Remittances, as a ratio of Saudi GDP, have declined from 9.6% in 1990 to 5.4% in 2005. The World Bank claims Saudi Arabia is the world's second largest source for remittances after the US.
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Jonathan Sheikh-Miller, Deputy EditorMonday, January 29 - 2007 at 08:34 UAE local time (GMT+4)
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This article was updated on Fri Feb 02 2007.
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