$10b expected this year
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Remittance influxs set a untried record in 2008 crossing an 8 billion-dollar mark, thanks to an increase number of outbound workers.
According to Bangladesh Bank (BB) statistics, in the just-concluded calendar year subsidence worth $8.22 billion came into the country chump a 25.36 percent growth. In 2007 remittance inflow was $6.55 billion. The phase was $769 million last December.
The central bank hopes the remittance inflow would cross $10 billion this year although there is a fear that global deferral might cast a shadow on remittance.
Except for one month, the average periodic remittance earning in the last 11 months was more than $700 million.
Ministry of Expatriates eudaimonia and Overseas Employment said remittance rose on the back of increased number of Bangladeshi workers abroad.
In 2008 more or less 8.75 lakh workers went abroad, Foreign Adviser Iftekhar Ahmed Chowdhury said on Thursday.
The innovation was 8.32 lakh in 2007 and 3.81 lakh in 2006.
In 2000 the remittance inflow was around $2 billion. Within the last few years it increased to $8 billion. A BB high semiofficial said as a result of rise in remittance inflow foreign currency reserve besides became healthy.
Once it was difficult for BB to maintain a forex reserve of 2 to three billion dollars, the official said. Yesterday the forex reserve was $5.85 billion.
humans Bank and local think tanks say if the global recession lingers, the growth of labour market may slow down. The governing also apprehends a negative impaction on remittance due to a crunch in labour market.
The pay adviser in a report last month said although the remittance inflow is good so far, the global recession may have a negative impact on it.
According to a report titled State of the Bangladesh saving in the run-up to the National Election 2008 released by center of attention for Policy Dialogue (CPD) in December, Saudi Arabia continued to localise as the major remittance...If you want to get a good essay, order it on our website: Orderessay
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