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Remittances by Egyptian, Syrian expats fell 30% in 2012
- Saudi Arabia: Wednesday, January 16 - 2013 at 07:09
Volume of remittances by Egyptian and Syrian residents in Saudi Arabia has been hit by political turmoil and the uncertain political future of these two countries, Arab News has reported. Remittance by Egyptian residents fell 30% last year from the SR3bn recorded before the revolution in 2011. "Egyptian residents in the kingdom annually transfer around SR2bn to their families in Egypt, and they will continue to do so," Taha Kosbah, economic adviser of Business Media, told the daily. Syrian residents transfer around SR1bn annually to their country.
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