Remittances from Sri Lankan expatriate workers increased to US$ 4345.1 million from January to September, said Finance State Minister Shehan Semasinghe.
Semasinghe said this is a 68.8% increase when compared to the foreign remittances during the corresponding period last year.
“Remittances were US$482.4 million in September 2023, compared to US$359.3 million last year”, he said.
He added that this increase will help strengthen foreign exchange reserves and stabilise the exchange rate. Semasinghe opined that this increase will help offset the trade deficit, strengthen the balance of payments for a faster recovery, and lead to economic growth.