KATHMANDU: In the initial month of the financial year 2080/081, which corresponds to Shrawan in the Nepali calendar, remittances recorded a significant increase of 25.8 percent.
By mid-August, remittances had surged by 25.8 percent, amounting to Rs 116 billion.
This marks a substantial growth compared to the 20.3 percent increase observed during the same period in the previous year. Remittance inflows in US dollars also experienced a remarkable upswing, rising by 21.5 percent to reach 879.8 million. In the preceding year, this figure had risen by 12.5 percent.
At the end of Shrawan, the number of Nepali individuals obtaining final work permits (both institutional and individual-new) for foreign employment declined by 12.1 percent, totaling 39,152. Similarly, the count of Nepali citizens reapplying for labor permits for foreign employment dropped by 19.5 percent during the review period, remaining at 16,423. This is in stark contrast to the 75.4 percent increase observed during the same period in the previous year.
Overall, net transfers exhibited a substantial increase of 26.1 percent, reaching Rs. 128 billion during the review period. This represents a notable contrast to the 18.4 percent increase observed during the same period in the preceding year.
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