There continues to be a decline in remittance inflows, as Jamaica records fall-off of 25% in 2022, says Don Anderson
There continues to be a decline in remittance inflows, as Jamaica records a fall-off of 25% in 2022.
Chief Executive Officer of Market Research Services Limited, Don Anderson made the disclosure during the Third Quarter Business and Consumer Confidence Indices Webinar, on Tuesday (October 25).
Mr. Anderson noted that Jamaican households, especially those with lower incomes, have depended on remittances to help meet their daily expenses.
He explained that since the COVID-19 pandemic in 2020, there has been a reduction in remittance inflows to the country.
Mr. Anderson added that with price increases plaguing the country, persons who depend on remittances are finding it more difficult to survive.