Remittance inflow continues to fall yet again

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

Kathmandu, March 11

For the past several months, the amount of remittance inflow that Nepal receives from its migrant workers is steadily falling down.

In the seventh month of the current fiscal year (mid-January to mid-February), the number of migrant workers receiving permits had increased. Therefore, it was hoped that the amount of remittance would go up this month.

However, it did not happen.

According to the Nepal Rastra Bank data, the country received Rs 72 billion in remittances in the month. This was 4.9 per cent last than the amount Nepal received in the same period last year.

Between the beginning of the fiscal year (mid-July 2021) and mid-February 2022, Nepal’s remittance inflow hit Rs 540.12 billion whereas the amount was Rs 567.7 billion last year.

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