Economic problems will be solved if expat income increases: Finance Minister
Finance Minister AHM Mustafa Kamal said that it is possible to solve all the ongoing economic problems, including the foreign exchange crisis if the income of expatriates increases. He said this in response to questions from journalists after a workshop at the Sonargaon Hotel in the capital on Monday (September 25).
Earlier, it was known from the latest report published by Bangladesh Bank on Sunday that the rate of sending dollars or remittance flow among expatriates has been decreasing continuously. Compared to the month of August, expatriate income is also lower in September. According to published data, expatriates sent remittances to the country in the first 22 days of September, totaling 105 million 4960 thousand US dollars.
An average of 4 crore, 79 lakh, and 52 thousand US dollars arrive in the country every day. In August, remittances came in at $1.59 billion and 9.5 million dollars. This is the lowest in the previous six months. As a result, the reserves are decreasing. Finance Minister AHM Mustafa Kamal called to look into why expatriate income is not increasing as opposed to the labor force abroad.