Expectation of declining the volume of remittance received by Yemeni expatriate as a result of global financial crisis.
By the beginning of August, central bank of Yemen will start implementation of a new mechanism for calculating the total Yemeni expatriate, including material things like (furniture, appliance,…) which goining to be estimated by the customs authority.
With regard to cash remittance through banks and exchange offices, it will be calculated by making survey using specific forms.
An official report shows that the aggregate expatriate remittance to Yemen reached 1,410 million dollar last year with an increase of 89 million USD compared to 2007.
The government expected a retreat in the expatriate remittance for 2009 as a result of the global financial crisis which cause a lot of employment cutoff and a decrease in the level of labor wages.
Worth mentioning ; the expatriate remittance forming 7.6% of gross domestic product (GDP) which consider a very important economic resource need to be care of by effecting the functioning of ministry of immigrant affairs and improving the investments environments that contributing in attracting expatriate’s investment.