Remittance inflows to Nepal surged 12.6% in Q1
Even though the adverse impact of COVID-19 was witnessed on various sectors of the economy, particularly external trade, capital spending of the government and credit expansion of banks and financial institutions (BFIs), most of Nepal's economic indicators were positive in the first quarter of the current fiscal year
Even though the adverse impact of COVID-19 was witnessed on various sectors of the economy, particularly external trade, capital spending of the government and credit expansion of banks and financial institutions (BFIs), most of Nepal's economic indicators were positive in the first quarter of the current fiscal year.
As per the ‘Current Macroeconomic and Financial Situation of Nepal’ report of the first three months of 2020-21 (mid-July to mid-October) unveiled by Nepal Rastra Bank (NRB) today, remittance inflows surged 12.6 per cent to Rs 258.86 billion in the review period against a decrease of 5.1 per cent in the same period of the previous year.
Similarly, merchandise exports surged 14.3 per cent to Rs 31.05 billion compared to increase of 14.4 per cent in same period of previous year. While merchandise imports slumped 12.7 per cent to Rs 292.27 billion compared to a decrease of 10.3 per cent a year ago.
https://thehimalayantimes.com/business/remittance-inflows-surged-12-6pc-in-q1/
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