{"id":97891,"date":"2024-07-11T10:31:01","date_gmt":"2024-07-11T05:31:01","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=97891"},"modified":"2024-07-11T10:31:22","modified_gmt":"2024-07-11T05:31:22","slug":"sbp-declares-milestone-remittance-receiving","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-declares-milestone-remittance-receiving.html","title":{"rendered":"SBP reports record USD 30.3bn in remittances for FY24"},"content":{"rendered":"\n<p>Islamabad: Overseas workers sent USD 30.3 billion back home in the fiscal year 2023-24 (FY24), marking a 10.7% increase from USD 27.3 billion in FY23, according to the State Bank of Pakistan (SBP). The news has been sourced from an article on July 9.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sbp-sees-increase-foreign-reserves.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP records slight increase in \u2018Foreign Exchange Reserves\u2019<\/a><\/p>\n\n\n\n<p>According to the details, this rise is due to more funds being transferred through official channels. In June 2024, remittances dropped 3% month-on-month to USD 3.16 billion from USD 3.24 billion in May 2024 but were up 44% from USD 2.2 billion in June 2023.<\/p>\n\n\n\n<p>The increase is attributed to more overseas Pakistanis using regulated money transfer methods due to a stable currency and a crackdown on illegal dollar activities.<\/p>\n\n\n\n<p>The World Bank\u2019s \u201cMigration and Development Brief 40\u201d report highlights Pakistan as one of the top five remittance-receiving countries in 2023, with a forecasted growth of 7% to USD 28 billion in 2024 and 4% to USD 30 billion in 2025.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sbp-revises-trade-regulations.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP allows advance payments on imports, modifies trade rules<\/a><\/p>\n\n\n\n<p>Remittances play a crucial role in supporting households in developing countries, improving living conditions, and helping families recover from disasters, according to the World Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Overseas workers sent USD 30.3 billion back home in the fiscal year 2023-24 (FY24), marking a 10.7% increase from USD 27.3 billion in FY23, according to the State Bank of Pakistan (SBP). The news has been sourced from an article on July 9. Read: SBP records slight increase in \u2018Foreign Exchange Reserves\u2019 According to the details, this rise is due to more funds being transferred through official channels. In June 2024, remittances dropped 3% month-on-month to USD 3.16 billion from USD 3.24 billion in May 2024 but were up 44% from USD 2.2 billion in June 2023. The increase is attributed to more overseas Pakistanis using regulated money transfer methods due to a stable currency and a crackdown on illegal dollar activities. The World Bank\u2019s \u201cMigration and Development Brief 40\u201d report highlights Pakistan as one of the top five remittance-receiving countries in 2023, with a forecasted growth of 7% to USD 28 billion in 2024 and 4% to USD 30 billion in 2025. Read: SBP allows advance payments on imports, modifies trade rules Remittances play a crucial role in supporting households in developing countries, improving living conditions, and helping families recover from disasters, according to the World Bank.<\/p>\n","protected":false},"author":88,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017,15019],"tags":[55057,21853,58585],"persona":[],"class_list":{"0":"post-97891","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"category-research-analysis","9":"tag-sbp-news-and-updates","10":"tag-state-bank-of-pakistan-sbp","11":"tag-zameen-news-and-updates","12":"cat-15017-id","13":"cat-15019-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP Declares Milestone Remittance Receiving - Zameen News<\/title>\n<meta name=\"description\" content=\"Overseas workers remitted USD 30.3 billion in FY24, a 10.7% rise from FY23&#039;s USD 27.3 billion, per the State Bank of Pakistan (SBP).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-declares-milestone-remittance-receiving.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP Declares Milestone Remittance Receiving - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Overseas workers remitted USD 30.3 billion in FY24, a 10.7% rise from FY23&#039;s USD 27.3 billion, per the State Bank of Pakistan (SBP).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-declares-milestone-remittance-receiving.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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