Remittances from foreign employees to Sri Lanka have increased to US$ 4,345.1 million from Jan-Sep 2023 which is a 68.8% increase compared to 2022. Remittances were US$ 482.4 mil in Sep 2023 compared to US$ 359.3 million last year.
The increase will help strengthen foreign exchange reserves and stabilize the exchange rate.
Further, it will help offset the trade deficit and strengthen the balance of payments for faster recovery and lead to economic growth.
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