Overseas Remittances to HCM City Are US$2.3B in Jan-Sept
Overseas remittances to Ho Chi Minh City were estimated at US$2.3 billion between Jan-Sept, falling by 18.2% from a year earlier and accounting for half of last year’s total figure.
The figure included US$870 million in the third quarter, down 18.7% on-year, attributing the fall to the global financial crisis, which caused wage cuts for overseas Vietnamese and guest workers abroad.
The State Bank of Vietnam forecast late last week that overseas remittances to the country will decrease by 20% to US$6 billion this year. (Vietnam Economic Times)
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