WEB DESK: May 2024 was Pakistan’s highest monthly total, with US$3.24 billion in remittances. This number is up 15.3% from the previous month and a significant 54.2% from the previous year.
In addition, foreign remittances for the first eleven months of the fiscal year 2024 (11MFY24) were an astounding US$27 billion, an 8% rise from the previous year.
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Remittances from some important places increased significantly month over month in May 2024: they increased by 23% from the UAE, 17% from the UK, 15% from Saudi Arabia, and 14% from EU nations.
These numbers have surpassed projections. Analysts had predicted that remittances would total US$28 billion for the whole year; however, Pakistan is expected to exceed this amount, having already amassed US$27 billion in 11MFY24.
