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Foreign remittances surge by 16 per cent

Foreign remittances have surged by 16.4 per cent in August in comparison with the month before, signing positive growth in forex reserves amidst the country’s worst economic crisis.

Forex reserves dropped due to a number of reasons including the Covid-19 pandemic in recent years and Sri Lankan expatriates declined remitting dollars to the country, hence the dollar crisis.

The reserves, however, are now indicating a rise, and Sri Lankans living overseas have remitted a total of US $ 325 million in August in contrast to that of July, which was US $ 279 million, a growth of US $ 46 million in a month.

Meanwhile, the number of Sri Lankans who have registered with the Foreign Employment Bureau of Sri Lanka within 2022 seeking career opportunities overseas has exceeded 200,000, and the government intends to send another batch of 130,000 people for overseas jobs before the end of the year, said Labour and Foreign Employment Minister Manusha Nanayakkara.

MIAP

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