The size of foreign currency spending in imports in the country is higher than remittances received by the country. Imports of goods and foreign currency exchanged by those going to study abroad are higher than the total remittance amount received by the country. During the first nine months of the current financial year (FY), 11.91 billion 31 million remittances have been received. This marks a 10% increase over the previous year. Additionally, the remittance inflow in US dollars increased by 7.3 percent to 8.74 billion.

At the same time, the country has earned a revenue of Rs188.2 billion from exports. Meanwhile, total merchandise exports increased by 65.2 percent. There is also a slight improvement in foreign exchange earnings in the country through exports. However, the gap between imports and exports is high. As a result, the trade deficit increased by 6.4 percent to 11.21 billion 34 million.

Another major area of foreign exchange outflow has also become foreign study. The current outflow has reached 13.84 billion spent on education in 9 months. This is 60.94 percent of the total expenditure. While the expenditure on education in the same period last year was Rs 95.85 billion. With this, by the previous month of Fagun, 88.98 billion had gone out of education. In the space of one month, an additional 14.86 billion have dropped out of foreign studies.

Economists point out that the inability to control the exit source of foreign exchange may lead to risks in the future. Economist Dr. Dilliraj Khanal says that the development of the country is due to youth mobilization in any country in the world; although foreign employment is good at the time, it will not benefit the country in the long term. According to him, the youth should be engaged in nation-building, and being forced to earn abroad has tied up the land of the country.

People’s News Monitoring Service.