KATHMANDU: Against the growth of 16.5 percent in the fiscal year 2018/19, the remittance inflow in the country saw negative growth in the fiscal year 2019/20, the central bank said.
The remittance inflow decreased by Rs 4.24 billion in the last fiscal year compared to the previous fiscal year.
The migrant workers sent Rs 875.3 billion back home from the countries of the destination while the remittance amount was Rs 879.27 billion in the previous year. The reduction in remittance inflow in the country is predicted as an impact of coronavirus infection in the countries of destination.
According to the report of the Nepal Rastra Bank released today, remittance income in the country reduced by 3.3 percent in the US Dollar last year while it had increased by 7.8 percent in the previous fiscal year.
Similarly, the number of migrant workers receiving final labor approval decreased by 20.5 percent while the number of such migrants had gone up by 32.6 percent in the previous fiscal year.
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