Sri Lankan Expatriates Contribute $572.4 Million In March

COLOMBO (News 1st); Labor and Foreign Employment Minister Manusha Nanayakkara reported a significant surge in remittances sent by foreign workers to Sri Lanka during the first quarter of this year.

The total amount reached approximately 1.53 billion dollars, marking an 8.7 percent increase compared to the previous year.

In March alone, Sri Lankan expatriates contributed 572.4 million dollars to the country's economy.

Since assuming office in May 2022, Minister Nanayakkara has overseen a substantial influx of remittances, totaling 10,263.8 million US dollars.

The Ministry of Labor and Foreign Employment has actively facilitated legal channels for expatriate workers to remit funds to Sri Lanka through the banking system.

Several initiatives have been implemented, including:

1. Electric Vehicle Import Licenses
2. Manusavi Pension Scheme
3. Multi-purpose Loan Scheme
4. Hope Gate: A dedicated portal at the airport for expatriate workers.

These measures collectively aim to enhance the inflow of foreign remittances and contribute to Sri Lanka's economic growth.