KATHMANDU: The Nepal Rastra Bank released the “Current Macroeconomic and Financial Situation of Nepal” report on Sunday, highlighting a significant increase in expenditures by Nepali students for foreign education.
In the fiscal year 2023/24, Nepali students spent Rs 125.13 billion on overseas education, up from Rs 100.42 billion in the previous year.
The report also indicates a substantial rise in travel-related payments, which increased by 31.1 percent to Rs 189.43 billion, compared to Rs 144.52 billion in the prior year.
Furthermore, the net services income registered a deficit of Rs 55.86 billion in 2023/24, an improvement from the Rs 79.89 billion deficit recorded the previous year.
Within the service account, travel income saw a notable growth of 32.1 percent, reaching Rs 82.33 billion during the review period, up from Rs 62.3 billion in the previous year.
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