Half a billion dollar remittance drop as expats exit

T TV Wednesday 10/April/2019 17:27 PM
By: Times News Service

The replacement of expatriate workers with locals led to a decrease of more than half a billion dollars in remittances in 2017.
This was according to a new report from the World Bank.
Compared to 2016, when $10.31 billion (OMR3.97 billion) was sent by expat workers in Oman, only $9.81 billion (OMR3.78 billion) was remitted in 2017
This reflected a decrease of $497 million, or OMR191 million.
Economists and financial analysts in the country say that they expect remittance figures to stay at this level, as the Sultanate continues to move ahead with its Omanisation policies.