Nepal's Remittances Exceed Annual Budget, Reaching Rs2.36 Trillion

Remittance inflows into Nepal have surged, surpassing the country's entire annual budget in the last fiscal year. The nation received a record Rs2.36 trillion, equivalent to $16.19 billion, marking a significant 37.1 percent increase from the previous year, as reported by Nepal Rastra Bank.

This substantial inflow of funds is higher than the Rs1.964 trillion budget allocated for the fiscal year 2025/26. The central bank's latest economic and financial report highlights this trend, noting that even June alone saw remittance inflows of Rs242.33 billion, up from Rs189.11 billion in the same month a year prior.

In US dollar terms, remittances grew by 28.1 percent, a notable acceleration from the 16.3 percent growth seen in the preceding fiscal year. Net secondary income also saw a considerable rise, reaching Rs2.581 trillion compared to Rs1.874 trillion in the previous year. The data also indicates shifts in foreign employment trends, with a decrease in new labor approvals but an increase in re-entry approvals for those returning abroad.