Tunisie Tribune (Tunisian diaspora transfers) – Remittances to Tunisia are expected to reach $2.0852 billion in 2022, representing 4.5% of gross domestic product (GDP) while remittances to low- and middle-income countries are estimated at $626 billion, according to the latest World Bank (WB) policy brief on migration and development.
And to clarify that remittances to low- and middle-income countries that weathered global turbulence in 2022 increased by 5% compared to last year. However, this is a sharp decline from the 10.2% increase recorded in 2021.
Migrant remittances for these countries are considered a vital source of income and will help recipient households build resilience, enabling them to improve their housing conditions and cope with losses incurred as a result of a natural disaster.
In addition, the WB Report indicated that migration remittances for countries in the Middle East and North Africa increased by 2.5% in 2022 to stand at 63 billion dollars against 10 .5% in 2021.
And to explain that this slowdown is partly linked to the erosion of real wages in the eurozone. Shipping costs for $200 amounted to 6.3% on average in the second quarter of 2022.
The Global Director for Social Protection and Employment at the World Bank (WB), Michal Rutkowski pointed out that “migrants help to loosen tight labor markets in host countries while supporting their families through remittances. Inclusive social protection policies have helped workers weather the income and employment vagaries of the COVID-19 pandemic.”
And to add that “these policies have positive effects on a planetary scale and must be maintained”.
The Migration and Development Brief analyzes trends in migration-related SDG indicators: growth in the volume of migration remittances as a percentage of GDP, reduction in money transfer prices, and lower recruitment costs.
