Kathmandu, April 25 : Remittance inflow in the country has seen a negative growth in the last fiscal year, the central bank said. The remittance inflow decreased by Rs 4.24 billion in 2019/20 compared to the previous fiscal year. There had been a growth of 16.5 per cent in such inflow in 2018/19.
The Nepali migrant workers sent Rs 875.3 billion back home in the last fiscal. while the remittance amount had stood at Rs 879.27 billion in the previous year. The reduction in remittance inflow is attributed to the the negative economic impacts of coronavirus pandemic on the foreign countries where Nepalis are working.
According to the Nepal Rastra Bank, remittance income in the country reduced by 3.3 per cent in the US Dollar in the last fiscal, while it had increased by 7.8 per cent in the previous fiscal. Similarly, the number of migrant workers receiving final labour approval decreased by 20.5 per cent in the last fisal, while the number of such migrants had gone up by 32.6 per cent in the previous fiscal year.
