Bangladesh’s remittance inflow dips to 14.23 bln USD in 2013-14 fiscal year

The inflow of remittances by millions of non-resident Bangladeshis in the 2013-14 fiscal year concluded in June reached 14.23 billion U.S. dollars, an official said Sunday.

“The flow of inward remittances in the 2013-14 financial year ( July 2013-June 2014) fell about 1.61 percent to 14.23 billion U.S. dollars,” the Bangladesh Bank (BB) official told Xinhua.

The official who preferred to be unnamed said the inflow of remittance, one of the key sources of foreign exchange for the impoverished country, reached 14.46 billion U.S. dollars in the previous 2012-13 (July 2012-June 2013) fiscal year.

Sources said the decrease in total inflow of remittance were due mainly to sluggish overseas employment and political instability surrounding the country’s Jan. 5 national elections.

Bangladesh Bank Governor Atiur Rahman said the growth in inflow of remittances was significantly dented during the first half of the fiscal year 2013-14 mainly due to sluggish overseas employment.

Political instability in the country also played a role, he said