Central Bank of Sri Lanka said that the government expects the remittances to increase by US$ 500 million before the end of this year to reach the highest ever in the history.
Sri Lanka earned US$ 3.3 billion as remittance last year and it is expected to go up to US$ 3.8 billion this year. The anticipated increase of income is due to the governments focus on expatriation of and agreements with employers for better pay, the Central Bank said.
The government is also encouraging the high income earning professionals to seek foreign employment, initiating a number of welfare program for the benefit of the expatriate employees, he further stated.