News

Remittances Provide Temporary Cushion to Nepal’s Troubled Economy

Source: my Republica

At a time when the world economy was hard hit by the ongoing pandemic, improvement in Nepal’s remittances inflow has made it easier for the government to operate. Contrary to the projection of drop in the remittances flow, it has increased by 12.5 percent, helping the government in expanding its expenditure scope. The remittances flow was projected to drop by at least 15 percent after COVID-19 pandemic.

According to Nepal Rastra Bank (NRB), remittances reached Rs 258.86 billion in the first three months of this year. This is an increase of 12.6 percent, compared to last year.