Remittance Inflow Increased By 21.2%

The remittance inflow increased by 21.2 per cent and remained at Rs 1.220 trillion in the last fiscal year 2022/23, according to the NRB report.

The report on current economic and financial situation unveiled by the Nepal Rastra Bank (NRB) showed that the remittance inflow had surged by 4.8 per cent in the fiscal year 2021/22.

Similarly, the report stated that the remittance inflow in USD increased by 12.1 percent and reached USD 9.3 billion in the last fiscal year. The increase rate was 2.2 per cent in the previous fiscal year.

Likewise, those obtaining work permit (institutional, personal/new) for foreign employment increased by 40 per cent in the last fiscal year and reached 497,000. It was increased by 392 per cent as compared to fiscal year 2021/22.

The report reads that number of people obtaining re-approval for work permit decreased by 1.8 per cent and reached 277,272. In the fiscal year 2021/22, it had increased by 198.5 per cent.