Remittance likely to cross $25b in FY22: Kamal 

Although the remittance flow witnessed a slight decline, it may cross the $25 billion mark at the end of incumbent Fiscal Year (FY), said Finance Minister AHM Mustafa Kamal on Monday.

“Export earnings are increasing despite the remittance flow slipped which is a sign of hope. The export earnings would be 47 to 48 billion dollar at the end of the year, if the current flow sustains”, he told reporters after concluding a virtual cabinet committee meeting on public purchase in the afternoon.

No need to be concerned over slow remittance flow, the minister said, hoping that “More remittance would arrive centering the two upcoming Eid festivals.”

Replying to a question of journalists, he said “We believe that country’s GDP (Gross Domestic Product) would be 7.2 per cent in the current FY although, World Bank and IMF always predicts differently in such cases.”

“In recent times, country witnessed growth in every sectors so the good news is we will be able to gain 7.2 GDP”, he claimed.

Remittance is a major contributor to the country’s economy. As the emigrant workers from Bangladesh gradually increased over the years, the amount of annual remittance to the country significantly rose.

According to World Bank, Bangladesh is one of the largest recipients of remittance with almost $15.3 billion in 2018. It was third highest recipient of remittance in South Asia in 2018.