KATHMANDU, July 10: Nepal has seen the highest remittance inflow so far. During the 11 months of the current fiscal year, the highest remittance inflow has been recorded.
Nepal Rastra Bank (NRB) presented this data in the Current Macroeconomic and Financial Situation based on the eleven months of the fiscal year 2022-23 (July 17, 2022- July 16, 2023). Last year, one trillion rupees was received in remittance. However, according to the current economic and financial situation of the country released by Nepal Rastra Bank (NRB) on Monday, breaking the record, Rs 1.112 trillion in remittance has been received in 11 months of the current fiscal year.
Channelize remittances for sustainable economic growth
According to NRB, the remittance inflow has increased by 22.7 percent. In the same period of the previous year, the remittance inflow increased by 4.1 percent. Remittance inflows in US dollars increased by 13.0 percent and reached USD 8.51 billion.
Last year, such flow increased by 1.8 percent. During the review period, the number of Nepalis who took the final work permit (institutional and individual-new) for foreign employment increased by 46.6 percent and reached 459,415.
Similarly, the number of Nepalis who re-took labor permits for foreign employment increased by 0.5 percent during the review period and reached 260,262. This number increased by 208.3 percent during the same period of the previous year.
