The overall Balance of Payment (BoP) registered its highest ever surplus of Rs. 91.37 billion during the nine months of the current fiscal year 2011/12 compared to a deficit of Rs 14.94 billion recorded in the corresponding period the previous fiscal year.
According to the current micro-finance situation based on the first nine months of this current fiscal year unveiled by Nepal Rastra Bank (NRB), the current account registered a surplus of Rs 41.94 billion compared to a deficit of Rs 15.20 billion in the corresponding period of the previous fiscal year.
The rise in the growth of remittance and foreign grants along with improvement in the service account was the responsible factors for the substantial surplus in the current account.
The remittances increased by 36.5 percent to Rs 248.18 billion in the first nine month while tourism income increased by 28.9 percent in the review period.
Net service account witnessed a surplus of Rs 12.48 billion during the review period in contrast to a deficit of Rs 8.24 billion in the corresponding period of the previous year.
Under services, tourism income rose by 28.9 per cent in the first nine months of this fiscal year in contrast to a decline by 17.7 per cent in the corresponding period of the previous year.
The net transfer account registered a growth of 33.1 percent to Rs 294.50 billion in the review period compared to that of a year ago. nepalnews.com