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Remittance inflow, export earnings to continue: Minister


Published : 02 Sep 2020 10:07 PM | Updated : 07 Sep 2020 11:43 AM

Finance Minister AHM Mustafa Kamal on Wednesday expressed hope that the uptrend of remittance inflow alongside export earnings would continue in the coming days.

He also mentioned that the inward remittance inflow witnessed a whopping 50 percent growth during this July-August period due to the proactive policy and steps of the government.

He also said, “There has been a buoyancy in the inward remittance flow (record 50 percent growth in remittance in July-August) while growth will also be there in export earnings. I hope such uptrend will continue.”

The Finance Minister came up with the assertion while he was briefing reporters virtually after chairing the 21st meeting of the Cabinet Committee on Government Purchase (CCGP) on Wednesday.

The minister further said, “We want that the inward remittances will come through the legal channel for which we had earlier announced the 2% incentive which is now working good.”

According to the Finance Ministry, Bangladesh received remittances worth $4,563.48 million during this July-August period while single month remittance inflow in August, 2020 reached $1,963.93 million.

“I always believe one thing that we have resources and we’ll have to utilize those. We’ve domestic resources and we’ll have to bring those to the mainstream of the economy. Through this, dynamism will be infused to the economy and there will be a multiplier effect,” he added.

Terming the 50 percent growth in remittance inflow during this July-August period as “unprecedented,” Kamal said this is also an unbelievable incident.

Kamal also extend his heartfelt thanks and also on behalf of the Prime Minister to the expatriates for sending remittances in large numbers.

Answering to a question about the disbursement of fund from the stimulus packages announced by the Premier to offset the Covid-19 shock, the Finance Minister said the government wants to disburse the fund of the stimulus packages in a transparent way so that there is no distortion.

He said even Prime Minister herself has been supervising the disbursement process so that every eligible person and business establishment get benefit from this package.