The total of such remittances is expected to top last year's, $5.5 billion, one of the world's highest per capita rates.
Thousands of young men who work in Europe — the economy here depends heavily on remittances — are expected home soon for traditional summer weddings, to vote in July's historic legislative elections and for the holy month of Ramadan, which this year falls in August.
Migration and remittances are expected to change the bargaining power within the family which may affect the allocation of household expenditures.
These results indicate that remittances receipt is expected to reduce the likelihood a child works by an average of 16.6%% among all households, and by 25.5 % among the subgroup of remittance-receiving households.
Recognising this, the World Bank's 5x5 Objective aims to reduce the global average cost of remittances to 5%, which is expected to increase remittances to developing countries by roughly $16bn every year.
While the remittances market in sub-Saharan Africa is expected to grow 7% this year, to $41 billion, the continent represents just 6.4% of the $642 billion global remittance market, according to World Bank numbers.
Remittances from the diaspora have plummeted and GDP is expected to grow by only 1.5% this year.
The second is net transfers, this is money sent to or received from abroad for which nothing is expected in return - think of remittances by immigrant workers or international development spending.
Under the IV estimates, a 1 percentage point increase in SLC Pass Rate is expected to increase education spending by 118 rupees while an additional 1,000 rupees in remittance income is expected to increase education spending by 95 rupees.
More than $11 billion worth of remittances flowed into Bangladesh last year, more than 10 times the amount from foreign investment, and the annual inflow is expected to rise to $20 billion in five years' time, the government estimates.
It is expected that an increase in the number of migrants abroad leads to a decline in remittances if they are guided by altruism of the migrant.
