According to data released by the central bank on Friday, Pakistan’s remittances in December totaled $3.1 billion, a 29.3% rise over the previous year. This indicates that Pakistanis living abroad continue to provide financial support despite the difficult economic climate.
According to figures from the State Bank of Pakistan (SBP), remittances had increased by 5.6% over the previous month in addition to increasing annually.
According to the central bank’s announcement, workers’ remittances grew by 32.8% overall with an inflow of $17.8 billion during the first half of fiscal year 2024-25 (July-December) as opposed to $13.4 billion received during H1FY24.
A stable local currency, incentives for banks and money exchangers, IMF assistance, and Pakistan’s economic recovery are all factors contributing to the increase in remittance inflows.
