AMMAN Jan 22 Jordan received $3.65 billion in
remittances from citizens working overseas in 2013, up 4.4
percent on 2012 with signs of a recovery from the impact of
regional tensions, central bank data released on Wednesday
Remittances, the biggest source of foreign exchange for the
aid-dependent energy importer, dropped by 5 percent in 2011
after a wave of unrest swept the region slashed growth. But
inflows have begun to recover since 2012.
Recovery in capital inflows have helped the kingdom build
foreign reserves and recover from an acute financial crisis that
hit the country in 2012 when foreign aid fell and welfare
payments and its energy import bill leapt. That forced it to
take a $2 billion International Monetary Fund loan.
Most Jordanians living abroad who work in Gulf oil producing
countries send money home to help their families and for
investment, including in real estate.