World Bank

Global growth to slow through 2023 due to continued COVID-19 flare-ups – New Global Economic Prospects report

Growth in advanced economies is forecast to decelerate from 5 percent in 2021 to 3.8 percent in 2022 as the unwinding of pent-up demand only partly cushions a pronounced withdrawal of fiscal policy support.

Remittance flows to shrink 14% by 2021 due to COVID-19

Based on the trajectory of economic activities in many large, migrant‐hosting countries, especially the United States, European countries, and the Gulf Cooperation Council (GCC) countries, remittance flows to Low- and Middle-Income Countries are expected to register a decline of 7.2 percent to $508 billion in 2020, followed by a further decline of 7.5 percent to $470 billion in 2021.