Repatriation of profit plunges by 87% YoY in July

By MG News | August 29, 2023 at 06:44 PM GMT+05:00

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August 29, 2023 (MLN): Repatriation of profit and dividends by foreign investors plummeted by around 88.02% MoM and 87% YoY in July to $2.1 million compared to $17.9m in the previous month and $16.5m in July 2022, the latest data issued by the central bank revealed.

The data further revealed that during the month, foreign companies repatriated $1.5m worth of profit against the foreign direct investments (FDI) in various businesses compared to $10.3m in the previous month, marking a plunge of around 85.2% MoM in July.

While the outflow as payment against portfolio investment stood at $0.6m, compared with $7.6m in the previous month, witnessing a drop of 91.92% MoM.

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