Pakistan’s remittances hit all-time high  – Gulf Insider

Remittances from Pakistani workers employed abroad exceeded a record $3 billion in April, the central bank said on Friday as the country’s foreign reserves dwindled to $16.37 million due to external debt payments.

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The surge in remittances have been critical in restraining rises in the current account deficit though it has swelled to $13.1 billion in the first nine months of fiscal year 2022. In terms of growth, remittances in April increased by 11.2% on a month-on-month basis and 11.9% year-on-year.

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Cumulatively, at $26.1 billion, remittances grew by 7.6% during the first 10 months of fiscal year 2022, compared with the 2021 fiscal period, the central bank statement said.


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Works as an in-house Writer at Gulf Tech Plus and focuses on the latest smart consumer electronics. Closely follows the latest trends in consumer IoT and how it affects our daily lives. You can follow him on Facebook, Instagram & YouTube.

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