Developing countries remittance to rise by 4% in 2017 says World Bank

World Bank has predicted that Africa countries and other developing continents' remittances would rise by around 4 percent 2017. According to the bank, "a major downside risk to this forecast is the potential for a decline in outward remittances from Gulf Cooperation Council countries due to continuing weakness in the price of oil. Also, the continued widening of black market premia and imposition of capital controls could limit formal remittance inflows in some countries." 

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