Remittance inflow continues to fall throughout the fiscal year’s first half

Remittance inflow remittance-driven economy
Image for representation only: Remittance inflow

Kathmandu, February 10

In an unusual economic development in the country, Nepal has recorded a continuous decrease in remittance inflow in the entire first half of the current fiscal year.

According to the Nepal Rastra Bank data made public on Wednesday, the overall remittance inflow in the past six months (mid-July 2021 to mid-January 2022) was 5.5 per cent less than the amount received in the same period last fiscal year. Last year, the country had recorded an 11.1 per cent increase in the period.

In the last six months, the country received Rs 468.45 billion. Likewise, the inflow of the remittance in US dollars has also decreased by 6.2 per cent.

Meanwhile, the number of people receiving new and renewed permits for foreign employment has significantly increased in this period as it hit 167,513.

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