Remittances by expatriate workers in the Sultanate fell for the second year in succession to OMR3.774bn in 2017, down from OMR3.965bn a year earlier, the Central Bank of Oman (CBO) revealed in its newly released Annual Report for last year. The apex bank attributed the 4.8 per cent decline in remittance outflows to “increased domestic consumption” by foreign workers, as well as “muted growth in expatriate employment”. While expatriate jobs in the private sector grew 6 per cent last year, this growth was predominantly seen in low-paying, unskilled sections of the labour force. Worker remittances have been growing year on year to peak at OMR4.226bn in 2015.
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