Kathmandu – Nepal received a total of NPR 1.45 trillion (14.45 billion) in remittances over the past fiscal year 2080/81, according to a report released by Nepal Rastra Bank on Sunday.
The report indicates that remittance inflows increased significantly by 16.5% compared to the previous year. During the last fiscal year, 460,103 Nepalis obtained final labor approvals for foreign employment (institutional and individual-new), while 281,199 received renewals for labor approvals.
In the previous fiscal year, the number of Nepalis receiving final labor approvals was 497,704, and those obtaining renewals stood at 277,272.
The increase in remittance inflows is expected to positively impact Nepal’s economy, contributing to foreign currency reserves and supporting overall economic growth.
