Pakistan receives record $23.1bln remittances – ZAWYA
- Date: 15-Jul-2020
- Source: Zawya
- Sector:Economy
- Country:Saudi Arabia
Pakistan receives record $23.1bln remittances – ZAWYA
Pakistan receives record $23.1bln remittances | ZAWYA MENA Edition HomeEconomyArticlePakistan receives record $23.1bln remittances Analysts and experts said a steady growth in remittances to Pakistan will continue despite the worldwide economic slowdown Image used for illustrative purpose. A roadside money changer handles bundles of Pakistani rupee banknotes Pakistan recorded 6.4 per cent increase in remittances that hit an all-time high mark of $23.12 billion (Dh84.85 billion) during the financial year 2019-20, the latest data shows.Analysts and experts said a steady growth in remittances to Pakistan will continue despite the worldwide economic slowdown and overseas Pakistanis may send $25 billion (Dh91.75 billion) in the present fiscal year of 2020-21.They further said higher remittance inflows will help provide cushion to the economy, which recorded negative 0.4 per cent GDP growth during last financial year 2019-20 that ended on June 30, 2020. Pakistan envisaged one per cent economic growth for the current fiscal year.Analysts and experts said a steady growth in remittances to Pakistan will continue despite the worldwide economic slowdown and overseas Pakistanis may send $25 billion (Dh91.75 billion) in the present fiscal year of 2020-21.Pakistan recorded 6.4 per cent increase in remittances that hit an all-time high mark of $23.12