SAWT BEIRUT INTERNATIONAL

| 25 February 2024, Sunday |

In what did Lebanon take the lead among Arab countries?

Secretary-General of Arab Banks’ Union, Wissam Fattouh, indicated that “the total financial flows of remittances from expatriates to Lebanon amounted to 6.3 billion dollars during 2020, which represents 11.5% of the total remittances to the entire Arab region. Lebanon ranked first among the Arab countries in terms of per capita remittances, which amounted to $923 per person. Remittances to Lebanon accounted for 37% of GDP, according to the parallel market exchange rate. Finally, Lebanon ranks first among the Arab countries in terms of expatriate remittances’ sources diversity, due to the wide spread of Lebanese expatriates around the world.