United News of Bangladesh

Bangladesh received a record $27.5 billion in inward remittances during the first 11 months of the 2024–25 fiscal year, marking the highest amount ever recorded for the period. The flow of remittance saw a significant surge in May, as expatriates sent US$2.97 billion in inward remittances, which is the second-highest ever. According to Bangladesh Bank, expatriates sent $247 million in remittance on May 29-31. The remittance flow saw a 31.7 percent growth in May year-on-year. The remitters sent $2.97 billion in remittances in May of the fiscal year 2024-25, which was $2.55 billion in the previous FY2023- 24. For the first time, Bangladesh received $27.5 billion in inward remittance in 11 months from July-May of FY2024- 25, which is the highest ever in the history. In the same period of the previous fiscal year, Bangladesh received $21.37 billion. It means the flow of remittance grew by 28.7 percent. The central bank official predicted that for the first time, remittance will reach $30 billion in the current fiscal year. The expertise sent $27.5 billion remittance in 11 months (July-May) of the current FY2024-25. The scenery of 11 months remittance as follows- Bangladesh received $2.75 billion in remittances in April May $2.97 billion April: $2.75 billion March: $3.29 billion February: $2.53 billion. January: $2.19 billion December: $2.64 billion November $2.2 billion October: $2.39 billion September: $2.4 billion August: $2.22 billion In July: $ 1.91 billion  

Prime Minister Sheikh Hasina on Wednesday said Bangladesh’s economy is more or less in a good shape now although the COVID-19 pandemic has dealt a severe blow to it as elsewhere in the world. "We’ve announced our budget…don’t know how long we can do it (for implementing the budget), but we’ve to take our preparations. If things go well, we’ll be able to achieve the full. If it’s not, then we’ll see…we won’t step back. We placed our budget to keep our economy moving," she said. The Prime Minister said this while addressing a meeting of Awami League presidium members at her official residence Gabobhaban. She said Bangladeshi expatriates are facing some difficulties due to the COVID-19 and some of them have to return home. Sheikh Hasina said many feared that the remittance will experience a setback in this pandemic, but it showed the opposite trend. "Our remittance inflow has increased. It’s now USD 39.4 billion. We’re giving two percent special incentive for sending remittance….and our foreign currency reserve is now in a good shape as well," she said. In the budget, Hasina said, the government fixed its deficit at 6 percent. In the last few years, the budget deficit was fixed at five percent. "We would have made it 10 percent had it needed. But it didn’t require..."