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Remittances are main support for Lebanon’s families

Remittances are main support for Lebanon’s families

Beirut, Jun 30 (Prensa Latina) Remittances from the Lebanese diaspora amounted to 6.6 billion dollars and they are currently one of the main supports for the families, WorldRemit spread on Thursday.
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According to a communique, remittance from abroad experienced an increase in 2021 and impacts in the welfare of the Lebanese households at a time of the worst economic and social crisis with the poverty line above 60 percent.

The foreign aid of the Lebanese communities positively impacts in the revival of the economy by counteracting the wave of dollarization in the domestic markets, WorldRemit stated.

In the text, the monetary transfer platform noted that the money of Lebanese citizens abroad allows to cope with the devaluation of the value of the national currency against the US dollar and low wages.

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