Decline in foreign remittance

moneySri Lanka is facing a acute shortage of foreign remittance. Foreign workers are ending less of money than before . worker remittances has seen a fall of 7.27 percent in the 11 months to November 2017,

That’s 6,080 million dollars, down than the previous year. Surkath Aziz , manager global positioning Dubai said that the earning capacity middle east migrants is on the decline. “times are difficult here and things may even become worse he said .

Central Bank Governor Indrajit Coomaraswamy pints out that geopolitical factors (unrest in the Middle East) as well as low oil prices in 2016 may be contributing to lower remittances.

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