11 September 2023 03:16 am Views - 1917
Sri Lanka has observed 74 percent increase in workers’ remittances during the first eight months of 2023, reaching nearly US$ 4 billion, compared to the corresponding period of the previous
Based on the most recent data released by the Central Bank, workers’ remittances in August 2023 increased to US$ 499.2 million, a substantial uptick from the US$ 325.4 million received in August 2022. However, this figure remained below the six-year average of US$ 584 million for the month of August spanning from 2015 to 2020.
For the January- August 2023 period, the cumulative remittance income stood at US$ 3, 862.7 million, compared to US$ 2, 214.8 million recorded for the equivalent period in 2022.
This translates to a substantial increase of 74.4 percent.
“This isn’t just a statistic. It’s a testament to dedication, hard work, and perseverance of our Sri Lankan expatriates,” Labour and Foreign Employment Minister Manusha Nanayakkara said commenting on the latest data.
“Our global workforce, spread across the world, has not only weathered the challenges brought about by the pandemic but has thrived and excelled. They have supported families, communities, and our nation’s economy through their tireless efforts,” he added.
“Let’s take a moment to appreciate their unwavering commitment and the sacrifices they make to uplift their loved ones and the country. Their remittances go beyond numbers; they are a lifeline, a beacon of hope, and a source of pride for Sri Lanka.
Together, we look forward to a brighter future, knowing that the global Sri Lankan community plays a pivotal role in our nation’s progress. As we celebrate these remarkable achievements, let’s continue to support and honour the dedication of our global workforce,” the Minister further said.