Country receives Rs 763 billion in remittances in six months: Finance Ministry

KATHMANDU: The country has received Rs 763.08 billion in remittance in the first six months of the current fiscal year.

Releasing the mid-term review report of the current fiscal year on Thursday, the Ministry of Finance stated that remittance inflows increased 4.1 percent in the review period compared to the same period of the last year.

However, the remittance inflows had increased 22.2 percent in the same period of the last year.

Likewise, net secondary income, also known as net transfer, reached Rs 832.76 billion in the review period by increasing 4.2 percent, while the net transfer had increased 21.1 percent in the same period of the last year.

According to the Ministry, the number of Nepalis taking first-time approval for foreign employment stands at 230,439 with an increase of 11.7 percent and those for renew entry stands at 162,628 increasing 21.4 percent in the review period compared to the same period of the last fiscal year.

The Ministry shared that the balance of payment in the review period remained at a surplus of Rs 249.26 billion while the balance of payment was at a surplus of Rs 273.52 billion in the same period of the last fiscal year.