Country receives Rs 763.08bn in remittance in first half of current FY
KATHMANDU: The country has received Rs 763.08 billion in remittances during the first half of the current fiscal year 2024/25.
In the mid-term review report released on Thursday, the Ministry of Finance stated that remittance inflows increased by 4.1% during the review period compared to the same period last year. However, the increase was significantly lower than the 22.2% growth recorded in the same period last year.
Similarly, net secondary income or net transfers reached Rs 832.76 billion in six months, reflecting a 4.2% increase, compared to 21.1% increase in the same period last year.
According to the Ministry, the number of Nepalis taking first-time approval for foreign employment stands at 230,439, marking an increase of 11.7%, while those renewing their entry stands at 162,628, a 21.4% increase compared to the same period last fiscal year.
The Ministry also reported that the balance of payments remained at a surplus of Rs 249.26 billion during the review period, whereas it was at a surplus of Rs 273.52 billion in the same period last fiscal year.
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