Inward remittances are projected to grow by 10.1 percent, reaching $1.39 billion by the year’s end, despite the challenges posed by increased emigration.

Finance Minister Biman Prasad states that cumulative to March this year, inward remittances expanded by 14.3 percent, amounting to $310.5 million.

He attributes this growth to higher personal transfers.

The Finance Minister says the use of mobile money channels has grown significantly over the years, becoming the most common method for transferring funds due to its accessibility and lower cost.

“Personal remittances increased to a phenomenal $1.25 billion last year, growing at an average of around 20 percent. We again thank our people living and working overseas who continue to send money to their families and friends back home. Remittances have become a major contributor to the economy, supporting thousands of families and livelihoods and we project that remittances will grow further.”

Prasad says the steady increase reflects the resilience and adaptability of remittance systems.

For the years 2025 and 2026, remittances are forecasted to rise moderately, reaching $1.43 billion and $1.48 billion, respectively.