Professional Documents
Culture Documents
REMITTANCE
Money sent by migrant workers from foreign countries to their former homes. it helps in balancing balance of payments, increasing foreign exchange reserves, enhancing national savings and increasing velocity of money. second largest sector of foreign exchange earning after the garments sector in Bangladesh. contributing around 35% of export earning.
ECONOMIC IMPACT
Remittance and GDP
#IN FY 2010-11of remittance as a percentage of GDP drops
ECONOMIC IMPACT
Remittance and foreign Reserve.
#reserve in FY 2011-12 might reach at USD 12.56 billion
ECONOMIC IMPACT
Remittance and Exchange Rate. # sufficient flow of remittance helps to control the
exchange rate
ECONOMIC IMPACT
Remittance and balance of payment
Trade deficit Import is larger than export Compensate the deficit
PROBLEMS OF REMITTANCE
Inequality Regional disparities Increased demand for imported luxury goods Misuse of remittance Exploitation by the dalals
RECOMMENDATION
Provide necessary information to the people about the job opportunity in different foreign countries. Establish information center Provide necessary logistic support Minimize the cost of sending remittance
RECOMMENDATION
Remittance sending procedure should be developed to make it secured, quick and effective
remittance sending process should be liberalized so that irregular emigrants can also send remittance through regular channels
FINDINGS
Remittance is the second largest sector of foreign exchange earning after garments sector Remittance earning is increasing day by day There is high probability of supremacy of yearly growth rate of remittance over that of RMG sector for fiscal years 2015 to 2020. Remittances of Bangladesh (million US$) have negligible positive impacts on foreign reserves. Remittance helps in reducing dependence on foreign assistance Remittance increases national savings and national inves