Remittance inflow to become normal in 2-3 months: Finance minister

Finance Minister AHM Mustafa Kamal has said he is expecting the country’s remittance inflow to become normal within two to three months.

“Hope, we’ll see an uptrend within two-three months as many of the expatriates who got stuck at home are going back to work following the improvement in the Covid-19 situation,” he told reporters on Wednesday after a meeting of the cabinet committee on public purchase.

The finance minister’s remarks came against the backdrop of the consecutive fall in inward remittances of the country.

As per the Bangladesh Bank’s statistics, the country received $1871.49 million in July, $1810.10 million in August and $1726.29 in million in September this year.

After the fall in remittance earnings, many analysts apprehend if the downward trend continues, the country’s foreign exchange reserve may witness a decline.

Mustafa Kamal said Bangladesh has been witnessing continuous rise in remittance inflow as a result of the various measures, including 2 per cent incentives given by the government to wage earners.

He said the slight fall in remittance inflow is temporary and it will return to normalcy within two months Bangladesh has long been receiving remittances of $22-23 billion annually.