Remittance inflows jump 39.1 percent, crossing Rs 1.6 trillion

Remittance inflows surged by 39.1 percent to Rs 1.62 trillion in the first half of the fiscal year, significantly strengthening Nepal’s external sector. The Ministry of Finance reported that foreign exchange reserves have climbed to USD 22.47 billion, resulting in a balance of payments surplus of Rs 501.24 billion. Average consumer inflation fell to 1.7 percent. Despite strong external indicators, economic growth in the first quarter is projected at a modest 3.0 percent, with agriculture slowing to 1.36 percent due to lower paddy output, while industry expanded by 5.44 percent.