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Egyptian remittances grow 8.5% in 9 months: CBE

Egyptian remittances grow 8.5% in 9 months: CBE

ArabFinance: Remittances from Egyptian expatriates leveled up 8.5% to $23.4 billion during the nine-month period between July 2020 and March 2021, according to recent data by the Central Bank of Egypt (CBE).

Remittances stood at $21.5 billion during the period from July 2019 to March 2020.

On a yearly basis, Egyptian remittances increased 11% to $2.9 billion in March 2021, when compared to $2.6 billion in March 2020.

During the first quarter (Q1) of 2021, remittances stood at $7.85 billion, compared to $7.87 billion in the corresponding period of the prior year.

Egypt’s net international reserves rose to $40.468 billion in May 2021, compared to $40.343 billion in April, an increase of about $125 million.

 

 

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