Kuwait City: The overall amount of expatriates’ remittances dropped by 8.1 per cent (8.1%) to KD 940 million during the third quarter of 2017.
A quarterly report released by the National Bank of Kuwait show that expatriates’ remittances dropped below KD 1 billion for the first time since 2012.
The rising cost of living standards due to the reduction of Government subsidies and rising fees were the main factors for the drop in expatriates’ remittances.