All-time record in expatriate income! Bangladesh has made history

Bangladesh's expatriate income has reached its highest record, which has added a new dimension to the country's economy. During the current 2023-24 fiscal year from July to May 7, expatriates sent a total of $25.27 billion in remittances to the country. According to the latest data from Bangladesh Bank, this figure is 28.2 percent higher than the same period of the last fiscal year. Remittances came in at this time last year.

Not only in total, but also on a monthly basis, there is a positive trend in remittance flow. In the first seven days of May this year, $735 million came into the country, which is 22 percent more than the same period last year.

Economists and analysts believe that the various effective steps taken by the government to increase the income of expatriates working in various countries in the Middle East, Europe, America and Asia and to stop hundi have played an important role in this remittance flow. The government has continued to provide incentives for expatriates to send money through banking channels, while also taking strict measures to curb digital hundi.

Experts believe that this record-breaking remittance flow will play a major role in increasing the country's foreign exchange reserves, meeting import costs and maintaining a stable currency. According to them, if this trend continues in the coming months, the remittance flow will reach a new milestone by the end of the fiscal year, which will further accelerate the country's overall economic growth.