Mexico, among the four countries receiving the most remittances in the world

With remittances of more than $ 33.480 million, Mexico is among the top four countries in the world to receive the most remittances from abroad, after India, China and the Philippines .

The Vice-President of the College of Economists of Northeastern Mexico (Cenemac), Alberto González Káram, said that remittances from families are fundamental to the Mexican economy, being the main source of income for more than one million 400,000 Mexican families who use these flows for their basic consumption.

He explained that 98.7% involved wire transfers and 86.4% of remittances were used for family maintenance.

He mentioned that nationals who work outside the country, they have access to financial servicesbecause they usually send their family funds through a bank account or a credit union, this avoids thefts to the migrant and offers him the opportunity to send money cheaply, to have access to credit and savings, among others services.

The economist said that, predicted, remittances to developing countries would exceed $ 480 billion by 2019.which will represent an increase of 6.5% per year.

He explained that in the case of Mexico, the country received $ 33,480.55 million for this concept, with annualized growth of 10.5% at the end of 2018, positioning itself as the fourth country with the largest global adoption.

He is also President of the National Border Affairs Commission of the National Association of Economists (CNE).India, with $ 70 billion, is the country that has received the largest volume of foreign currency; China, 66,000 million dollars; The Philippines with more than 34 billion dollars and Mexico.

He explained that, given the changing remittances of families in Mexico, they are expected to accumulate more than $ 35 million by the end of December 31, 2019.

Alberto González said that remittances from families in Mexico will increase until the end of 2019, which is why he badumed that they could overtake the Philippines and place themselves in the third position worldwide.

"Remittances represent the main source of direct foreign income that has helped save the national economy by raising $ 161,000,499.17 million over the 2013-2018 period.It is therefore important that Mexicans abroad participate more in political decisions at the federal, regional and municipal levels, to the extent that they contribute economically, "he said.

With information from Notimex