July 28, 2021, Wednesday
१३ श्रावण २०७८, बुधबार

Increased remittances

Increased remittances

Covid-19 has not affected remittances. Despite the decrease in the number of youths going for foreign employment, the amount of remittances has increased.

According to the NRB, remittances of Rs. 8 trillion 89 billion have been received in the first 10 months of the current fiscal year (till April). This is 19.2 percent more than the same month last year. The remittance inflow had decreased by 6.3 percent in the corresponding period of the previous year.

As of last April, the number of Nepalis seeking final labor approval has decreased by 60.3 percent. The number of re-employment permits has also dropped by 49 percent. However, remittances are increasing.

As of last April, the number of Nepalis seeking final labor approval has decreased by 60.3 percent. The number of re-employment permits has also dropped by 49 percent. However, remittances are increasing.

According to the data made public by Nepal Rastra Bank, the balance of payments is in deficit till April. During the review period, the balance of payments deficit stood at Rs. 247.08 billion. 96.18 billion in the corresponding period of the previous year.