Kerala likely to see 20% drop in remittances as West Asia war drags on

Kerala likely to see 20% drop in remittances as West Asia war drags on

Kerala is bracing for a significant 20% drop in remittances this year due to the ongoing conflict in West Asia, a major source of income for the state. While the depreciation of the local currency may somewhat soften the immediate blow, the long-term economic impact could be severe. This decline could strain Kerala’s economy, which relies heavily on these funds for household expenses and development projects, highlighting the broader implications of geopolitical conflicts on domestic economies.

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