Migrant remittances from Italy total 1.9 bn in Q1 2023

Photo: ansa.it
ROME. KAZINFORM - The remittances of migrant workers in Italy to their home countries amounted to 1.9 billion euros in the first quarter of 2023, the Bank of Italy said on Friday, Kazinform cites ANSA.

This is up from 1.8 billion euros in the same period last year but down from 2.4 billion euros in the last quarter of 2022.

Bangladesh remained the top recipient country for remittances in the period January-March 2023 (280 million euros), followed by Pakistan (162 million euros), the Philippines (149 million euros) and Morocco (135 million euros).

Money sent home by migrant workers is an important engine of socioeconomic growth, reducing poverty, increasing welfare and providing an important source of foreign currency.

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