KATHMANDU, Aug 18: In the fiscal year 2079/80 BS (2022/23), Nepal witnessed an influx of remittances, averaging over 100 billion monthly. According to the annual data of last year released by Nepal Rastra Bank on Friday, a total of Rs 1.2 trillion was received in remittances till mid-July. In the last fiscal year, remittances surged by 21.2 percent compared to the previous year.
In the last fiscal year, the number of people going for foreign employment set a new record. Accordingly, there has been a notable increase in the number of Nepalis sending money to the country through legal channels. The remittance inflow in US dollars has risen by 12.1 percent to 9.33 billion. In the previous year, this growth rate was 2.2 percent.
Nepal receives Rs 477.96 billion in remittances in four months
Last year, the number of those who took the final work permit was 497,704 and the number of those who renewed the work permits was 277,272. The number of newly issued labor permits was 40.3 percent more than the previous year. On the other hand, the number of individuals re-applying for work permits is 1.8 percent less.
